Arbour Realty turns a darker shade of Green by offering Paperless Processing and Closings
Last week Arbour Realty announced paperless contracts and electronic signatures for home buyers and sellers. We are continuing the chain by now offering paperless processing and closings.
Through a new partnership between Arbour Realty and Alex Alquinta at Flagstar Bank, we are able to offer paperless loan processing and closings. Our new partnership with Flagstar Bancorp will allow the use of their new wholly owned e-lending platforms, DocVelocity for paperless processing and Fiserv for paperless closings.
DocVelocity is an online end-to-end paperless office solution for mortgage originators. We can now upload, scan, e-mail or fax documents into the DocVelocity system where they are automatically imaged, organized and stored digitally. DocVelocity then creates a secure electronic file that everyone in the loan process can access, anytime. Borrowers can even enter their own documents, such as their W-2, into the system on a secure, one-way basis.
As a natural extension of Flagstar’s existing paperless technologies for loan processing, Flagstar is now managing its signing, closing and post-closing processes using the Fiserv e-lending platform. This system allows us to securely store electronic closing documents and facilitates the electronic transfer of assets.
This new system is not only advantageous to the environment by the elimination of paper, ink and the gas associated with travel, but it also saves on labor costs, as little or no file preparation is required. It eliminates the issues associated with secure storage, as all the documents are saved online and can be accessed easily and conveniently for future use. We are very excited with this new development, and foresee that this can only make the future buying/selling procedure a smoother and less time consuming process for all involved.
To contact Alex Alquinta directly, call 703-426-6961 or you can go straight to our website at www.flagstardirect.com/arbourrealty.
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