PaperClip Incorporated

The Bridges Blog

Since 1995, Mike has served as President, Vice President of Marketing & Sales, Director of Professional Services,and Consultant for PaperClip Incorporated. In his current role, he is responsible for strategic direction,operations, and corporate communications. Prior to joining PaperClip Software, Mike was the Executive Vice President and co-founder of CMF Design System, a custom software and systems integration firm. Mike received a Bachelor of Science from Rowan University and served as a Captain in the United States Marine Corps.

In the summer of 2012, Mat Honan, a respected writer for WIRED Magazine had his digital world destroyed in 2 hours and the hackers never hacked, they “gamed” the system. Did I mention they were teenagers?  Mr. Honan later made contact with one of the Hackers who explained how they did it.

Lenders and everyone one else out there, confuses paperless with process. Whether you work with paper or images, you have to have a process. People look at going paperless as a mandatory change in the way they process. People believe their new document management solution should be the process, known as workflow. Paperless is about converting the paper, not eliminating it. To embark today with the goal of never creating or receiving paper is not reality. The "paperless mortgage" should be clearly defined as the end process, all paper documents should be digital. Efficiencies are produced when you can reduce the amount of paper coming in the front door. Providing tools to people to convert paper to image before you receive it.

Imaging remains the most dominate electronic format for eliminating paper. Paper cost $1.30 per page cradle to grave. Paper scanned to image cost ~ $0.30 per page. By scanning paper as soon as you can, will save a dollar per page.

In my last column I talked about how apathy enables cyber crimes. Cyber crimes are now larger than all property crimes combined. Unfortunately this apathy leads most lenders and service providers in the mortgage industry to still believe that cyber crime might hit Target and other well know retailers but not the mortgage industry. Well, I hope these recent events may change your thinking.