Scrypt’s XDOC, an industry leader in electronic document management since 2004, makes managing piles of mortgage loan documents convenient and easy, allowing users to process more loans with less work. Lenders using XDOC shave days off of underwriting and increase the number of loans processed by an average of 28% per year.
XDOC’s pre-built and pre-configured database adapters and APIs allow for a seamless system integration with any LOS, so that documents and data can co-exist. It can also function directly ‘out-of-the-box’ that works from day one.
“XDOC has the most comprehensive APIs in the industry, so it’s super easy and quick to integrate XDOC into an existing LOS,” Aleks Szymanski, CEO at Scrypt, Inc., said.
XDOC is all-encompassing from origination to servicing. It supports the entire mortgage process. Its intelligent file catalog interface allows intuitive document capture and indexing from a variety of input sources, including scanners, printers, multi-function copiers and enterprise fax servers.
XDOC leverages optical character recognition to automatically classify and catalog loan documents so that loan officers, loan processors or underwriters don’t have to do it manually, which gives them more time to focus on closing loans. The solution finds documents through tags and filters, then automatically identifies and catalogs them.
And the solution’s powerful and intuitive user interface allows document approval, annotating, splitting, merging and versioning.
“XDOC makes reviewing, commenting, annotating, filing and storing loan documents fast and easy, with features such as drag and drop and ‘buckets’ to help underwriters keep track of what documents are new and what documents have yet to be reviewed,” Szymanski* said.
Documents remain safe in the system with comprehensive document-level security based on security profile and loan stage.
XDOC features include:
- Flexible admin controls so that an organization can define its own workflow and user definitions.
- Scalability across multiple locations, which means XDOC can be used in almost any department in an organization that wants to go paperless.
- Comprehensive audit tracking, which saves time and money by improving workflows, reducing paper, and making documents accessible with a simple search.
- Accessible from the cloud so it’s easy to get up and running, with no infrastructure investment.
“XDOC’s integration capabilities unlock compliance, security and workflow features not afforded by stand-alone systems,” Szymanski said.
XDOC is just one offering from Scrypt, Inc., which specializes in building secure cloud-based productivity tools for regulated industries that help customers work better, with confidence.
“Scrypt provides an environment where innovation can prosper,” Szymanski said. “Our dedicated product managers and developers are given ownership and the freedom to make decisions based on a variety of influences – including regular customer communication and participation at industry events.”
The company is dedicated to eliminating manual processes and paper to reduce risk, increase efficiency and deliver value for its customers. For lenders, XDOC is a game-changer that makes managing the lifecycle of loan documents convenient and secure.
“There was a need in the mortgage industry to be free from the workflow bottleneck that managing paper files caused,” Szymanski said. “XDOC improves productivity and lowers costs by taking paper based processes out of the equation.”