360 Mortgage Group, a privately owned wholesale mortgage bank, has released Broker Docs, a closing document clearing functionality now available online to all 360 Mortgage Group brokers.
Broker Docs automatically delivers closing instructions to a closing agent whenever a broker submits a documentation order request and a clear to close has been issued within the file. This allows closing agents to work on a file prior having a 360 Mortgage Group closer review it, thereby reducing the time required to close a file. The company says Broker Docs is expected to shorten closing times by at least 50%.
‘Instead of having to wait on our staff to process a doc order request and deliver closing instructions to the closing agent, now the originator stays in control of the delivery of closing instructions,’ says Andrew WeissMalik, 360 Mortgage Group's chief operating officer.