iDatix Corporation Aims At Providing Paperless Mortgage Operations

Located in Clearwater, Florida, iDatix® Corporation offers a new approach to the paperless enterprise and understands that when it comes to enterprise solutions, organizations have unique needs and challenges with workflow analysis and business process automation. To ensure mortgage customers receive significant and measurable results, iDatix implemented its iSynergy Mortgage their end-to-end integrated solution that provides a fully scalable, modular architecture to address the core business problem of managing unstructured data.

iSynergy Mortgage streamlines end-to-end mortgage processing from loan origination and electronic delivery of mortgage files to the secondary market. Due to the iDatix' iSynergy Mortgage recognition in the mortgage industry, Meritage Mortgage, a sub prime mortgage lender, embraced the technology to combat rising costs of the paper intensive mortgage process, reduce the paper handling process time, eliminate lost documents, and have the ability to share information across the enterprise.

Traditionally the sub prime mortgage environment is significantly more labor intensive than a standard mortgage process due to the stringent requirements that accompany the sub prime-lending environment. After learning about Meritage Mortgage concerns and goals, iDatix knew that the iSynergy business process automation solution they needed to provide the company had to offer a significant cost savings while being able to capture and share paper and electronic mortgage documents in real-time. With that in mind, along with iSynergy, iDatix provided Meritage Mortgage with the iScan solution, an encounterbased scanning interface for capturing paper documents, and recommended that software to be used with the Fujitsu fi-5650C color duplex workgroup scanners.

"We recommend Fujitsu scanners to accompany our turn-key solutions because of their document imaging reputation, superior image quality, paper handling ability, dependability, performance to price point, and their extensive product offering," said Mike Kuhnsman, vice president and COO, iDatix Corporation. "Originality of the scanned document is extremely important for mortgage users, along with the ability to capture both text and images in color, monochrome and grayscale. Providing our customers with a complete business automation process that saves costs, diminishes manual labor tasks and increases productivity is paramount to the success of our character recognition and automated indexing solution's we offer and recommend. Fujitsu is our preferred scanner vendor because their products are durable, have excellent image quality, and an extensive product offering, but also because their customer service and support is unmatched. They go above and beyond to insure our client's success.

Implementation Saves Costs and Increases Productivity Meritage Mortgage implemented iSynergy's iScan along with 16 Fujitsu fi-5650C scanners throughout their Portland, Oregon, and Jacksonville, Florida, facilities. With this installment, Meritage Mortgage can now capture paper and electronic mortgage documents as received in real-time, automatically index, assign individual document types, electronically route, and simultaneously share digital mortgage documents with users responsible for mortgage processing, underwriting, reviewing, approving, and shipping. Real-time access to electronically stored documents is key for Meritage Mortgage as their customers rely on them for a quick response time.

Additionally, Meritage Mortgage can now capture documents at the beginning of the loan origination process with the ability for simultaneous access to each document within the mortgage file – allowing multiple job tasks to occur at the same time. 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.

Based on the process improvements, cost reductions from minimizing copier and fax machine use, and paper and shipping costs, Meritage Mortgage expects a 12 month return on investment since installment of the iSynergy Mortgage and Fujitsu's fi-5650C scanners. The productivity gains and the increase in the quality of the processes will all be net gains and is a positive impact to the bottom line.