Xerox Helps Mortgage Clients Improve Loan Processes with Enhanced Electronic Document Solution

ROCHESTER, N.Y., March 17, 2008  -- Arming the mortgage industry with the technology to revamp its business processes, drive cost savings and improve customer service, Xerox Corporation (NYSE:XRX) introduces new features to its BlitzDocs™ Collaboration Suite. One of the most widely-used electronic solutions to view and deliver mortgage documents, BlitzDocs now offers a quicker and more secure way to process new or re-financed home loans.

Xerox Mortgage Services' Web-based BlitzDocs software helps users manage the entire loan process online, from submission to completion. BlitzDocs' patented technology helps lenders, brokers and investors reduce document-related costs and build a competitive advantage in capturing new loan applications.

"The BlitzDocs' enhancements are timely for an industry that must respond to an ever-changing marketplace while maintaining outstanding customer service," said Greg Smith, vice president and general manager, Xerox Mortgage Services. "Xerox technology, along with BlitzDocs' features, offers lenders the means to accelerate the lending process -- and that's advantageous to retail, wholesale and correspondent lenders."

New to the BlitzDocs suite is Xerox Dataglyphs™ technology, a security feature that embeds computer-readable data to the paper. Information regarding the mortgage loan is contained in the DataGlyphs, which act as a portable database, offering increased security and automatic classification capabilities throughout the loan process. DataGlyphs are flexible in shape and size unlike most barcodes. They can store hundreds of times more data and can recreate themselves when damaged or tampered.

Three new features have been added to simplify the uploading and organization of documents to BlitzDocs, including:

  • One-click document submission solutions - Multiple documents can be uploaded, classified and sorted into the BlitzDocs electronic loan folder with one click. A management queue offers the added benefit of viewing, reordering and managing the documents during the uploading process.
  • Drag and drop functionality - Paired with the existing one-click upload capability, this feature allows users to simply drag and drop electronic documents from third-party applications directly into a BlitzDocs e-folder.
  • Document organization support - Individual documents that are scanned, faxed or uploaded into a BlitzDocs e-folder can now be indexed, merged, shuffled, and classified regardless of their format, including TIFF and PDF documents.

In addition, Docu Prep and have joined Xerox Mortgage Services' Certified BlitzDocs Provider Network. Members of the network demonstrate a high level of expertise in the use of BlitzDocs and have trained BlitzDocs professionals on staff.