TITLE

Republic Cuts Out Reams Of Paper

AUTHOR(S)
Kite, Shane
PUB. DATE
December 2005
SOURCE
Bank Technology News;Dec2005, Vol. 18 Issue 12, p43
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on financial institutions adopting new technology that increases automation in loan closings. While closing a loan, paper documents takes a lot of time for all parties to synthesize the deals vitally important details. Also in the paper shuffle, important provisos and stipulations are simply more susceptible to getting lost in the paper shuffle. Among multiple counterparties, mistakes are made and terms are less easily comprehended. Banks, nowadays, are using products that enable secure Web-based posting of closing documents for complicated loans such as mortgages.
ACCESSION #
19738019

 

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