Mortgage Assistant

Mortgage Assistant, an add-on module to PaperClip32 which was developed specifically for the mortgage industry, adds paperless mortgage processing to PaperClip32's document management solution.

Mortgage Assistant enables brokers, loan officers, and/or loan processors to manage all electronic files in a central repository that all permitted users can search, retrieve, route, and more. With Mortgage Assistant, loan processors and underwriters can manage and approve loans from a single, password-accessible interface, without the need to route documentation.

All loan documents including lock confirmation e-mails, credit reports, closing packages, fax appraisals, and scanned bank account statements, are stored in the user's electronic loan files and are linked directly to the user’s existing loan origination software.

Mortgage Assistant eliminates paper-based costs and delays from the mortgage process, and allows brokers to process loans up to 60 percent faster over processing paper.

Centralized loan processing

• Loan personnel can review documents via a single centralized electronic repository.
• Authorized personnel can update the status of a document to "approved" or "waived".
• Loans must meet required criteria to transition from origination through closing.

Intelligent user access

• A user-defined security hierarchy ensures that individuals can only see and edit documents they have access to.
• User privileges can be allocated in any manner, enabling selected individuals to monitor the work of others.

In-depth reporting

• Summary reports offer a bird’s-eye-view of the number of loans in each stage, and the number of loans by product type.
• Detailed reports offer printable reports on the total pipeline of loans, the pipeline by loan officer, document deficiency, documents awaiting review/approval, and loans by product.
• How do Mortgage Assistant and PaperClip32 work?