Traditional Mortgage Lenders Experiment with Paperless Mortgages

Massachusetts lender Radius Financial Group has begun experimenting with an all paperless mortgage in recent months as they look to become more efficient in this technological age; the process includes DocMagic, the MERS loan registry, Fannie Mae and Santander Bank; so far they’ve been able to complete six applications; the savings seen are significant, $200 a loan and on average nine to 13 days by using an e-warehouse line as compared to the traditional warehouse line.  Source

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