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Contact: |
Suzy Tuck |
A.W. Pickel, III |
Solution enables paperless mortgage processing
June 7th, 2004, Hasbrouck Heights, New Jersey - PaperClip Incorporated, a leading developer of integrated document management and loan processing solutions, announced today that Leader Mortgage Company, one of the largest FHA mortgage bankers and brokers in Kansas and Missouri, has successfully deployed PaperClip's software to enable paperless mortgages with Calyx Point.
A.W. Pickel, III, President of Leader Mortgage Company, explains, "Thanks to PaperClip Software, we no longer need to concern ourselves with paper. Each document can now be scanned at the point of sale, automatically date stamped and entered into the electronic loan file, and immediately returned to the consumer. This eliminates any chain of custody for the paper, and eliminates the need to copy, store, or shred paper. Now we only need to keep signed documents."
The technology enables Leader Mortgage to dramatically grow its business while markedly improving customer service. Mr. Pickel adds, "PaperClip Incorporated enables us to easily set up remote branch locations. Loan officers can now accept an application, scan it, and immediately submit it for processing. The technology eliminates the frustrations that come from lost or misplaced files, speeds up the processing of loans, improves compliance, and reduces shipping costs. Best of all, it makes the process much smoother and faster for our customers."
Leader Mortgage installed PaperClip32, PaperClip's flagship integrated document management solution, plus its Mortgage Assistant loan processing add-on module. The combined solution enables Leader Mortgage and its partners to easily manage all loan files from a central digital repository that all permitted users can efficiently search, retrieve, route, and more. Mortgage Assistant provides an intuitive, staged approach to loan processing, ensuring that required documents are submitted, processed, validated and approved before the loan is closed.
For secure document delivery via the Internet, Leader Mortgage is leveraging PaperClip Internet eXpress. The total solution facilitates paperless mortgage processing and secure document exchange from origination to the secondary market, and further automates and enhances Leader Mortgage's entire business process.
The decision to implement PaperClip Incorporated came easily to Leader Mortgage. "Before seeing PaperClip's technology, I had only seen partial document management solutions never a complete one that included loan processing. The technology was just what we needed", explains Mr. Pickel.
Since PaperClip's software requires no programming and works seamlessly with a lender's current software systems, Leader Mortgage's implementation took a matter of days. The technology does not require users to change systems nor current business processes. "The Leader Mortgage implementation is an excellent example of how companies can quickly and cost-efficiently deploy PaperClip's software to dramatically improve their business all without dramatic change to their current processes", states T.J. Gill, Account Executive at PaperClip Incorporated.
Leader Mortgage is already witnessing excellent results from the technology. "The system is very user friendly which helps ensure that everyone will use it. Response from our staff has been extremely good. That will quickly translate to faster loan processing and happier customers", explains Rick Horn, Branch Manager at Leader Mortgage Company. "As we look to where we want to be in five years, we know that PaperClip Incorporated will help us do things faster and more efficiently", adds Mr. Horn.
About Leader Mortgage Company
Leader Mortgage Company is based in Lenexa, Kansas, with a branch office in St. Louis, Missouri. Leader has been in business since 1992, primarily in the Midwest. Leader Mortgage was founded by A.W. Pickel, III as a mortgage brokerage. Over time, Leader Mortgage has grown and evolved into a regional mortgage broker and banker. It offers in-house processing, underwriting and closing. Leader Mortgage is a full service mortgage lender, approved to provide conventional as well as government loans. The company can be found on the Internet at Leader Mortgage Co.
About PaperClip Incorporated.
PaperClip Incorporated develops and markets software products that organize, manage and communicate documents, images and workflow for a wide range of users. Established in 1991, PaperClip has a customer base that includes small and mid-size organizations as well as Fortune 1000 multi-nationals. PaperClip markets its products through an international network of authorized PaperClip resellers. For further information, please contact PaperClip at (800) 9293503 or (201) 329-6300, or visit www.PaperClip.com. Public Symbol: PCLP.
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PaperClip and PaperClip32 are registered trademarks of PaperClip Incorporated. All other named products mentioned in this release may have been identified by trademarks or registered trademarks of their respective holder.