Cogent Road, a provider of Internet-based applications for the mortgage industry, has launched Business Spaces, a collaborative document management system.
In addition to a fully interactive, end-to-end e-mortgage platform, Business Spaces automates work processes by delivering documents, tracking their status and notifying key workgroups of issues that may delay closing.
The moment a loan officer orders a credit report, a Business Space is created, and the applicant is notified via e-mail. The loan applicant enters a private, secured environment through which he or she can view, e-sign or upload documents directly into the Business Space via computer, fax or an easy-to-use virtual printer, the company explains.
The borrower can also communicate using micro-blogs and discussion threads integrated in different areas within the Business Space. With automatic audit logging, all borrower actions are effectively tracked for compliance purposes.
Source: Cogent Road