It is no surprise that the office of any mortgage company houses thousands upon thousands of pages of extremely important documentation. It could be volumes of paper loan documents or mortgage files for hundreds of different clients. The reason for the stockpile? Mortgage companies are required to keep all records of their client’s real estate transactions on record for a minimum of three years. It is not even an option for mortgage companies to not have this very important information on hand at all times. Because of this, mortgage companies are required by a variety of state regulations to keep the files for as long as they are in business.

With the mounds of documentation that grows over time for each of their individual clients, mortgage brokerages tend to fill and make unavailable valuable space with documents that in all likelihood they will never need. However, they cannot discard the information either, so what is the best method of dealing with this all to common occurrence?

Document Imaging with Scandoc Imaging Imaging (www.ScandocImaging.com) Document Imaging will allow any mortgage company to grow and flourish with a more sophisticated method of filing and retrieval of files, and Scandoc Imaging is one of the national leaders in document imaging technology. Large corporations have converted to electronic document imaging systems because they understand the need to increase employee efficiency and cut out time spent searching through unorganized files. In a Mortgage Brokers Office it does not take a team of specialists to find ways to increase efficiency.

For instance, if a loan officer files documents manually, document imaging can eliminate trips made to the file cabinet or a trip to the processing department to retrieve a file. Unless the loan officer has made a copy of a client's file, when the processing department has it he usually does not have a copy. If the client calls, what does the loan officer do? Without a copy in their hand, they usually have one choice: go to the processing department and get the file. If it is being processed, the other problems arise such as who has it? Are they working on it now? Is it in the inbox? This all takes valuable time from a loan officers day and can make the company seem unorganized and ineffective to clients. If a processor is asked for the file both peoples time are being wasted. Some loan officers make a copy for themselves before they turn it over to processing. If the loan officer has a copy of the file, how much time did they waste making it? It is relatively easy to see that even in a small brokerage office, how always having Scandoc Imaging make digital images of each clients file immediately accessible to the loan officer could save them a few minutes or more each day.

Wasted time can also include trips to the company fax machine. Many fax machines will have the tendency to jam or run out just at the moment one needs to use it the most. Waiting for a technician to arrive and fix the fax machine is another small, but time consuming example of how Scandoc Imaging can help make the work flow in a mortgage office that much smoother.

For the most part, a mortgage company will have three choices available to them when it comes to facsimiles: print them, purchase a service to route them to a Loan Officer's desktop, or receive them electronically and then route them electronically to the loan officer. The first option is the most expensive as someone has to physically leave their desk to move the printed fax to the loan officer's desk. The second option is better; the loan officer has the file instantly. But what do they do with it then? Two choices: print it or file it electronically. Printing the document means waiting for it to print, going to the printer to retrieve it and then finally filing it. What a load of wasted time! Scandoc Imaging has learned that filing it electronically makes much more sense.

However, without a proper system in place designed to handle the usually enormous task at hand, there is the possibility of still more time wasted. For instance, a client faxes back their application, income docs and fee agreement and the loan officer receives the fax as a PDF email attachment. What do they do? Create a file folder for the client, save the PDF in the folder and name it something meaningful to them. Seems like this would work well, but if the processor needs the files, how do they know what is in each file the loan officer has saved? If the file is not complete how do they add pages to it? How much time is possibly wasted by the processor flipping through the entire file to find the one item they are looking for? When the underwriter wants certain items out of the file how do they get them out without printing them? How much time is spent browsing through all the loan officer's file folders to find the correct file? How many loan officers waste at least 10 minutes per day dealing with facsimiles?

Another time consuming process for brokers is that traditionally they had to overnight files to lenders, clients, and processors. As one can imagine, this took up valuable time, paper, and resulted in additional costs to the company. Having the ability to image the documents and transfer them through email or other document management systems alleviates those issues and allows the mortgage company to provide better service to their client and partners, thus creating more revenue annually because of the improved workflow.

Scandoc Imaging (www.ScandocImaging.com) is a document scanning service that converts your mortgage office’s important papers and confidential documents to digital images. This process is sometimes called "document imaging" or "digital imaging." We provide images in the popular and widely-supported TIFF and PDF Adobe Acrobat formats, along with all other major image, document management systems, text, and database formats.

We also are dealers for Digitech Systems' professional document management software including PaperFlow, which can be used with most ISIS or TWAIN compatible scanners.

Document Scanning / Imaging - Our core business is converting paper documents to electronic image formats. We support all major image and document management system formats.

Optical Character Recognition ("OCR") - Ideal for Publishers: We can convert your scanned publications and documents into editable electronic files, which can drastically reduce data re-entry labor. All major formats of editable electronic files are supported. Click here for a list of available formats.

Document Preparation for Scanning - If your files are not the most organized or consistent, Scandoc Imaging offers preparation services including staple and paperclip removal, stacking and collating.

Compact Disk Duplication - Multiple copies of your document CDs can be provided for in-house use, or publishing. From basic low budget productions to slick professional packages including custom printed inserts and disks. Scandoc Imaging can provide copies of any CD that you have copyrights or permission to duplicate.

Bulk Electronic Document Delivery via Internet - Scandoc Imaging can arrange for secure downloads or uploads of your electronic documents.

Document Management Training - Our experienced trainers can provide you or your staff with hands-on instruction on our recommended document scanning and management solutions.

Consultation - Scandoc Imaging can assist you in identifying your needs and matching you with the products, services, and processes that will work the best and cost the least for your situation.

Scandoc Imaging can help your office to maintain and manage all client-related documents together in one place, which will streamline your business processes and increase productivity. There is more efficient distribution of and control over information, files and records throughout the office and it expedites business processes by allowing instant access to information. You office will also experience greater collaboration within and among departments and offices by streamlining the tasks that each department must handle. Enhanced security for files and records along with back up files and records for disaster recovery are also two major advantages to document imaging with Scandoc Imaging.

Five aspects that deal specifically to the mortgage office are that loan servicing requests are handled and resolved without a return phone call. Credit and collections activities are expedited resulting in improved cash flow and problem resolution. In the event of a catastrophic loss, the entire portfolio can be restored because the system is completely backed up and recoverable. The dreaded file room has been eliminated. Once the documents are scanned they are sent off site and never handled again. And finally, labor, real estate and supplies costs associated with traditional filing systems are virtually eliminated

If all the benefits of document imaging through Scandoc Imaging mentioned wasn’t enough, doing away with the repeated copying and re-copying of client paperwork is also a major contribution to the preservation of the environment. Along with all the access paper waste made in the office comes with environmental problems as well. Constantly making photocopies to retrieve information, then the subsequent shredding only leads to waste and adds to the pollution problem of our earth. Luckily, Scandoc Imaging has also thought of that aspect. Scandoc Imaging will not only shred all the private documents you have scanned for you, but they will recycle the shredded papers, elimination extra waste in an eco-friendly way.

Whatever path you decide to take in your mortgage office, there is one thing to remember: Increased productivity equals increased income. Take control of your office and prevent your employees from wasting their valuable time.