Hyland Software Enables eMortgage Delivery for Chase Correspondent Lenders
May 12, 2006
CLEVELAND--(BUSINESS WIRE)-- Hyland Software Inc., developer of the OnBase(R) enterprise content management (ECM) software suite, unveiled OnBase eMortgage Delivery module for correspondent lenders of Chase Home Finance. The module delivers loan documents electronically to Chase in its preferred image transfer format. Chase can now receive transferred loan documents and data from correspondent lenders to speed loan funding.
"High volume mortgage institutions want a rapidly deployable solution for the seamless transfer of loan files that allows them to realize the many benefits of eMortgage processing," said Jason King, director of Financial Services for Hyland Software. "The OnBase eMortgage Delivery module allows investors to receive electronic loan files faster, accelerating the loan purchasing and funding cycle, and saving days over traditional paper-based processing."
Electronic delivery can eliminate copying and overnight shipping costs of paper loan files, thus increasing productivity and bottom-line profitability, while advancing the industry's eMortgage standards.
OnBase provides instant and secure access to all loan documents, automates lending processes and ensures these processes are manageable and measurable. The open architecture of OnBase enables seamless integration with loan origination systems, third-party lending software and other applications (e.g., accounting, human resources, etc.) in order to leverage lenders' existing technology investments.
Hyland Software has also developed an OnBase eMortgage Delivery module for correspondent lenders of Countrywide.
Source: Hyland Software Inc.