The lending industry has many obstacles to overcome that is not only based on finding those that can be approved for loans but also in the processes needed to get them there. To stay competitive with an often limited pool of creditworthy buyers, you must be able to manage both a reasonable rate of return all while delivering a streamlined process for everyone involved. If the process gets off track or borrowers don’t cooperate, this creates not only time-based delays that leave everyone waiting but also the fleeting chances of closing at all. Document loss is one of the most common obstacles that lenders see, but the good news is Cirrus can help you avoid them.
The Curse of Document Loss
As documents move from each party, they can easily be lost. To err is human, and that is understandable but not acceptable in our industry. When your whole process is dependent on a set of specific documents being completed you can easily waste bot time and manpower only to find in the end, you are not any closer to completing the tasks required. Cirrus provides streamlined, customizable checklists to keep your staff and borrowers on track. By having a checklist that is unique to your organization, you can add specific things that are important to you and your process to ensure that everything you need is collected, signed, and supported.
Manage Document Loss Without Worry
In the past, you would need to have documents signed by uploading them to a third-party system, but we’ve made this more streamlined by offering eSignatures. We also provide increased accuracy through an easy drag and drop capabilities. When you are processing hundreds, if not thousands of documents each week, the formatting of your documents will never be affected nor will you need to worry about how a document was initially saved. It also helps to further stay in compliance, which is essential in our industry.
Data Management Through Cloud-Based Sharing
As a lender completes various processes with borrowers, one way to ensure that not only are the documents where they should be but that they are usable and able to be read priority. Cloud-based sharing is easy to manage and even more comfortable to use. This means you’re more productive, and if you need a document after hours, you can easily access it. Without the ability to organize documents in virtual files, many organizations find that there are many inconsistencies, and in some cases too many opportunities for security breaches.
The Cloud offers a secure way to store documents and ensure everyone that needs them can access them in real time. Cloud-based sharing also provides an extra layer of security that is important when moving documents that contain personal information. You can also better manage the processes you need to ensure are available such as supporting documents.
The management of documents is a never-ending process. As technology finds new ways to streamline processes for the lending industry, it is crucial that lenders take full advantage of them as tools to increase productivity and secure their most important data.
Cirrus provides streamlined, customizable checklists to keep your staff and borrowers on track with eSignature and accuracy with easy drag and drop capabilities. Cloud-based capabilities ensure real-time status transparency of documents that are missing, uploaded, and accepted—giving you a one-stop portal for tracking your document collection and providing a product that is both consistent and accurate. If you would like to learn more about Cirrus and ways we can help your business reach out to us today!