a la mode Debuts Mortgage XSites

Wednesday 17 March 2004 19:53 CET | News

a la mode has launched its latest lender-side solution to closing loans faster: Mortgage XSites. Mortgage XSites allow brokers, loan officers and other lender representatives to quickly set up and easily maintain a website loaded with rich content and features, geared toward getting business from home buyers and refinancers.

In addition, Mortgage XSites will allow users to seamlessly interface with EDI-capable appraisers, whether among a la modes 51,000-plus appraiser customers or otherwise. Appraisers ready and able to import appraisal order details, complete assignments and deliver complete, error-free electronic appraisal reports faster and more efficiently. A March, 2004 survey of more than 1,250 appraisers shows that the Mortgage XSites solution can significantly streamline the appraisal process. Mortgage lenders who order and receive appraisal reports lag their appraisers in the adoption of time-saving technology and business practices, the survey revealed. a la mode, inc., North Americas largest provider of software and workflow solutions to appraisers, invited more than 51,000 appraiser customers to participate in an online survey about how much of their business is done electronically. Appraisers have overwhelmingly embraced electronic ordering, status updating and delivery of reports, but relatively few of their clients are willing or able to join them on the fast track, especially on the front end, the data showed. Ninety-eight percent of a la mode customers responding to the survey reported being able to receive electronic orders and transmit electronic reports. But half of the more than 1,250 appraiser respondents revealed that fewer than 35 percent of their orders come in via e-mail or other electronic method today. Half of appraisers polled reported that 95 percent or more of their appraisals today are sent electronically. Still, nearly 12 percent of appraiser respondents reporting being able to produce electronic reports said that half or more of the reports they transmit to clients are hardcopies. And even though many appraisal clients are receiving electronic reports, they still fax orders. More than four in ten -- 40.3 percent -- of appraisers capable of receiving orders electronically said that 80 percent or more of their orders are not electronic in origin, and need to be manually keyed into their formfilling software.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce