- Meritage Mortgage -

Meritage Mortgage and iDatix Corporation aim at providing paperless mortgage operations with Fujitsu scanners

Meritage Mortgage is a sub prime mortgage lender with major offices located in Portland, Oregon and Jacksonville, Florida.

iDatixR Corporation is a Clearwater, Florida based company that offers a new approach to paperless enterprise and understands that organizations have unique paperless enterprise related workflow analysis and business process automation needs. It is for this reason that iDatix launched its iSynergy Mortgage integrated solution.

Problem

Meritage Mortgage operates in the traditionally labor intensive sub prime mortgage environment and it came to realize that implementing an imaging system would have many advantages. For example, they could achieve significant cost savings through capturing and sharing electronic and scanned mortgage documents.

Solution

Meritage Mortgage employees decided that the best way to achieve this objective lay in implementing a Fujitsu fi-5650C scanner based iSynergy Mortgage / iScan solution. Their choice to go with Fujitsu scanners was based upon the fi-Series' excellent document imaging reputation, superior image quality, paper handling ability, dependability, performance to price point and extensive product line-up. The implemented fi-5650C scanners scan digitized data into an iSynergy Mortgage solution, which streamlines end-to-end mortgage processing from loan origination and electronic delivery of mortgage files to the secondary market. Meritage Mortgage also chose the fi-5650C scanners because Fujitsu offers excellent customer service and its support is unmatched.

Application / Results

Through implementing this Fujitsu fi-5650C scanner based imaging system, Meritage Mortgage was able to combat the rising costs of the paper intensive mortgage process, reduce paper handling and processing time, eliminate lost documents and be able to share information across the company. In addition, its employees can capture paper and electronic mortgage documents in real time, automatically index, assign individual document types, electronically route and simultaneously share digital mortgage documents with users responsible for mortgage processing, approval and shipping. Real-time access to electronically stored documents has proven to be key to enabling Meritage Mortgage to quickly respond to their customers needs.

Additionally, Meritage Mortgage can now capture documents at the beginning of the loan origination process. This advantage is supplemented by improvements in efficiency achieved by enabling more than one employee to simultaneously access each document saved in the mortgage file. The ability to have concurrent access to loan documents coupled with the ability to route documents electronically has dramatically reduced the time required to process and approve or deny loans.

Performance improvements and cost reductions achieved by minimizing copier, fax and paper usage along with a decrease in shipping related costs has enabled Meritage Mortgage to pay back its investment in this imaging system within twelve months. In addition, productivity gains and information processing improvements with this fi-5650C scanner based solution is bringing about other net gains that are improving company profits.