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June 10, 2019 • Insights
What You Need to Know About Document Management

There are still many institutions that generate paper files for the management and processing of loan documents. However, more and more lenders are choosing to digitally organize their processes to maximize efficiency, compliance, and to have more secure data management policies.

No matter what the lender uses, be it  paper, electronic forms, or a hybrid approach of paper and cloud, there are significant advantages to utilizing proper document management. At Cirrus, our focus is on the accurate curation and collection of the essential information needed to facilitate better a quick application and approval process for those that we work with.

Why You Need to Put the “Management” in Document Collection

Document management begins with documents that are exchanged. This can include tax forms, pay stubs, lists of assets and liabilities, and more depending on the amount of the loan. This is a tremendous amount of information, and it can easily (and quickly) get out of hand without a transparent system to manage it. Due to the nature of loan processing, a further wrench in the mix can be when information does not come in at the same time.

Data management, on its own, can take up quite a bit of time. Stronger document management standards mean that relevant information can be gathered and organized so that all team members are free to focus on getting applications approved rather than searching for documents.

Managing with Digital Systems and Document Management

The cloud has opened up new ways for lenders to organize and manage information. Instead of sifting through stacks of files and folders, lenders need only log onto their system and into a secure cloud environment to access their data. Things like the Cirrus Send Checklist can help you know what you’re missing and where things are in the process. 

From there, you as the lender can see in seconds the status of an application, important deadlines, and any relevant communication regarding those documents. Plus, when you maximize the use of digital organization makes it easy to retrieve pertinent records in the event of an audit or questions from your team, you’ll know where to find everything. 

With systems like Cirrus Secure, backups during both transfer and storage states, documents have zero chances of being lost.

Built by lenders, the Cirrus platform enhances the efficiency of the loan process and offers all of the features you need to increase productivity, such as:

  • Automated checklists
  • Easy to manage logins for all parties in the loan process
  • Leal-time activity log
  • The highest levels of security so you can manage documents with ease 

No matter what your organizations size, our program can easily be integrated into mitigate document chaos and build confidence in your team and your business. 


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