Greater Efficiencies Drive Paperless Loan Processing
WINSTON-SALEM, N.C., June 23 /PRNewswire-FirstCall/ -- Triad Guaranty Inc.
(Nasdaq: TGIC) announced that its subsidiary, Triad Guaranty Insurance
Corporation, has joined the BlitzDocs Certified Underwriting Provider Program.
The certification allows Triad to review and underwrite electronic files
directly from lenders using BlitzDocs solutions from Advectis, Inc.
BlitzDocs Certified Underwriting Providers use the on-demand technology as a
key solution component in their origination/underwriting process.
"We are excited to become a BlitzDocs Certified Underwriting Provider,"
said Pam Morrison, CMB, CMT, Vice President, eCommerce Development and
Operations, Triad Guaranty Insurance. "BlitzDocs Enterprise is emerging as a
standard way of doing business in the origination and underwriting process.
We want to support those lender organizations that are working in a paperless
fashion with BlitzDocs solutions; it fits our business model and supports our
strategic objectives. We look forward to achieving greater heights in
customer service, turnaround time, and issue resolution."
"Private mortgage insurance companies like Triad Guaranty who provide
contract underwriting services are key constituents in the highly
collaborative, loan processing cycle," said Michael Parham, Vice President,
Business Development, Advectis, Inc. "The ability to electronically connect
originators and lenders with their contract underwriters shortens turnaround
time, increases customer satisfaction, and reduces costs for all parties
involved in the process."
According to Advectis, certifying underwriting service providers for best
practices and integration are steps toward bridging today's paper-intensive
processes with tomorrow's e-mortgage by reducing costs, turnaround time and
increasing overall efficiency for both brokers and lenders. To become
certified as a BlitzDocs Certified Underwriting Provider, a company must have
a minimum of six trained BlitzDocs underwriters on staff, be a member of the
Mortgage Bankers Association (MBA), demonstrate a core competency in
underwriting, offer contract underwriting services to customers and comply
with basic interface requirements.
About Triad Guaranty Insurance Corporation
Triad Guaranty Insurance Corporation, a wholly owned subsidiary of Triad
Guaranty Inc., is a nationwide mortgage insurer providing mortgage insurance
(MI) to residential mortgage lenders. Private MI makes homeownership available
to buyers with equity of less than 20%, facilitates the sale of mortgage loans
in the secondary market and protects lenders from default-related expenses.
For more information, please visit the company's web site
at http://www.triadguaranty.com .
About Advectis, Inc.
Advectis, Inc. provides the mortgage industry's first and most widely used
solution for electronic document collaboration, BlitzDocs Enterprise. The Web-
based BlitzDocs platform provides a Collaborative Electronic Document
Platform(TM) for all participants in the mortgage loan industry to capture,
submit, organize, underwrite, audit, share and archive loan documents
electronically. At the heart of BlitzDocs Enterprise is the Collaborative
Electronic Loan Folder(TM) ("e-folder") which mirrors the paper loan folder
that mortgage companies use today, but streamlines loan processing through
capturing, collaborating, sharing and archiving of the e-folder. With
BlitzDocs Enterprise, Advectis not only provides a solution for paperless
processing now, but also offers a path to "SMART Docs" and the e-mortgage.
For more information about Advectis and the BlitzDocs solution, call
678-460-2460, or visit the company's web site at http://www.advectis.com .
SOURCE Triad Guaranty Inc.
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Related links:
http://www.triadguaranty.com
http://www.advectis.com
CONTACT:
Jerrold C. Schwartz, Vice President,
Marketing of Triad Guaranty Inc., +1-800-451-4872, ext. 1122, or
jschwartz@tgic.com
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