Case Study On Mortgage Banking

Mortgage Lender First Bank Processes Loans Faster with Bluebeam Revu


The escrow period is one of the most stressful times for homebuyers and the people who serve them. In just one month or less, homebuyers, real estate agents and mortgage lenders are in constant communication, sending financial documents back and forth, reviewing them, and calling or emailing with questions. While home buyers can often send their information electronically, the traditional mortgage lending communications flow requires bankers to print and review hard copies of every document in a mortgage package, which, depending on the loan type, could be hundreds of pages.



The Search for a Solution

First Bank, a Texas-based financial institution that provides mortgage lending and other financial services to North Texas residents, has found a more efficient way to manage mortgage loan documents during escrow. First Bank wanted to speed up their mortgage loan approval process. Waiting for approval for financing is a stressful time for homebuyers, but the sooner First Bank can complete loan verifications, the sooner its customers can sign papers and step inside their new home. Scott Flinn, First Bank’s Assistant Vice President of Mortgage Lending, believed that to make the process better and faster, it should be as paperless as possible.

“Flipping through documents is time-consuming,” says Flinn. “Although we need to deliver hard copies for closing, much of our review process could be faster and more efficient if we digitized it.” With a goal of becoming 90% paperless, First Bank set out to find a solution that would enable them to:

  • Securely review and comment on digital copies of mortgage documents
  • Easily toggle between various documents and pages
  • Digitally reorder and extract pages
  • Incorporate scanned documents into the digital process

First Bank reviewed a number of PDF editing solutions that enable users to create, annotate and edit documents in the universal PDF format. First Bank selected and deployed Bluebeam Revu eXtreme, an award-winning solution used by large enterprises throughout the US and abroad. First Bank also equipped its team with dual and, in some cases, triple monitors so they could review documents quickly by digitally replicating the process of looking at multiple pages side by side.

By using Bluebeam Revu, a PDF-based markup and editing solution available on desktops, tablet PCs and iPads, the bank can now securely review and organize documents digitally. As a result, First Bank can process loans more quickly, from initial disclosures all the way to closing documents, enabling their clients to close on home purchases faster.


Increased Ease and Productivity

Using Revu, First Bank’s mortgage lenders and underwriters have significantly increased their productivity. First, the lenders set up documents electronically by scanning hard copies to PDF and using Revu ’s OCR+ technology to convert the scanned files into text-searchable documents. They then insert these pages into documents already in PDF format. To further organize documents, they use the Batch Link feature to hyperlink related documents.

When reviewing mortgage packages, the bankers use Revu’s MultiView technology to drag the Revu interface over two or more screens. “The order in which mortgage packages need to be paginated and organized varies with each different investor. We constantly need to create different, investor-specific documents by extracting, inserting and reordering pages,” says Flinn. “To do this efficiently, most of us have one monitor with the Thumbnails tab open, and another monitor with the active workspace open, so we can read and annotate documents. Expanding the Thumbnails tab makes it easy to drag and drop pages to reorder them, or we can right-click to access the page-editing menu so we can extract, combine or insert pages when needed.”

First Bank’s underwriters also find Revu’s tabbed navigation helpful when sourcing deposits. “When we need to verify the source of funds for a down payment, we frequently reference two or three documents at the same time. The ability to quickly switch between open files within one interface makes it much easier for underwriters to trace the money,” says First Bank Senior Underwriter Ida Ferguson.

For commenting, lenders and underwriters use Revu’s customizable markup tools, mainly the text box and note annotation, which they can modify with different font colors and attributes. Users also create custom stamps, which include their signature, dynamic date and time, so they can electronically sign documents while automatically recording when sign-off occurs. Lenders can even take their workflow mobile by using Revu iPad to meet with clients at their homes or workplaces to get signatures on initial disclosure documents.


Closer to Home

Since using Revu, First Bank is much more efficient at reviewing mortgage packages. “Before we deployed Revu, every aspect of our workflow involved paper,” comments Flinn. “Now that we use Revu, we can maneuver faster through documents. Because mortgage industry regulations require us to deliver some documents to our investors “wet signed,” we know we can’t completely eliminate paper from our workflow. But thanks to Revu, we can serve our clients faster and enable them to close on their dream homes faster. And we’re well on our way toward meeting our goal of being 90% paperless.”


Ты же знаешь, что шифры, которые не поддаются, не выходят у меня из головы. Дэвид молчал. - Расскажи.  - Она надулась.

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