Republic Mortgage Selects Hyland Software To Enhance Mortgage Loan Processing OnBase helps reduce costs and time associated with loan file distribution
Hyland Software, Inc., developer of the OnBase* enterprise content management (ECM) software suite, has been named by Republic Mortgage LLC, the largest employee-owned mortgage company in Nevada with $1.1 billion originated in 2004, as the organization's provider of ECM technologies. Republic, headquartered in Las Vegas, NV, awarded the contract to OSAM, a provider of innovative records management solutions and a Hyland Software authorized OnBase solution provider, as its integration management company for the project.
(I-Newswire) - Due to the rapid appreciation of homes in the Las Vegas region in 2003 and 2004 and the ensuing increased volume of loans originated, Republic struggled with the amount of paper in its loan closing department. As loans arrived, the entire file was photocopied, scanned and processed while the original file remained for storage due to state regulatory compliance. After review, Republic Mortgage would sell the loans to investors, distributing paper loan portfolios with high shipping and labor costs.
To help save time and reduce costs associated with the lending process, OSAM integrated OnBase into Republic's existing environment, which led to improved imaging, storage, retrieval and delivery capabilities. The OnBase web client was deployed for easy access to loan documents anytime, anywhere. The loan files are exported to investors using the new OnBase eMortgage delivery module from Hyland Software, deployed by OSAM.
"Republic expects to realize a ROI of a little over 11 months and a two-year savings of approximately $230,000 due to the installation of OnBase," said Republic's Chief Information Officer, R. Spencer Van Pelt. "This savings, coupled with OSAM's phenomenal customer service, has made this installation a complete success."
"Ensuring that the electronic documents met the specific requirements of Republic, yet are generic enough to be universally acceptable by other lenders, was a key component of this solution," said OSAM President Ron Thompson, Jr. "We were able to break the loan documents down in such a way that individual lenders are also able to get loan documents in the format required."
"OnBase provides lenders with the ability to scan paper loan documents, store them in electronic format and deliver the electronic loan documents and index information to an investor," said Jason King, industry manager for Lending Solutions at Hyland Software. "The result will be increased cost savings for lenders who would normally send paper loan files to investors. The costs for making multiple copies of loan documents, as well as a large portion of the overnight shipping fees, are eliminated, not to mention the time savings involved with immediate delivery of the electronic loan documents and data."
About Republic Mortgage, LLC
Headquartered in Las Vegas, Republic Mortgage, LLC, is Nevada's largest employee owned mortgage company with $1.1 billion in originated loans in 2004. Established in 1988, Republic is committed to quality customer service and setting a high standard in the mortgage industry. Republic, which has additional Nevada offices in Henderson and Pahrump and Arizona locations in Scottsdale, Phoenix and Tucson, supports In-House Processing, Underwriting and Funding Services. For more information, please visit www.republicmortgage.com.
About OSAM
Founded in 1912, OSAM, Inc. delivers business-to-business state of the art information management solutions, from standalone to enterprise-wide, in markets that include Financial, Healthcare, Government, Manufacturing and Education. OSAM, headquartered in Phoenix, provides an expertise in the area of document management that is based on a long history of dedication to its core competency. Whether it's electronic, microfilm/fiche or paper filing systems, OSAM prides itself on its ability to recommend solutions that best fulfill customers' needs and provide exceptional support for those solutions. OSAM -- "Bringing the Power of Tomorrow to Business Today." For more information, please visit www.osaminc.com or contact OSAM President Ron Thompson, Jr., at 1-800-279-6726 or ronjr@osaminc.com.
About Hyland Software
Hyland Software, established in 1991, provides rapidly deployable enterprise content management software. Hyland develops OnBase, enterprise-class software that combines integrated document management, business process management and records management in a single application. OnBase allows organizations to manage digital content, including scanned paper documents, faxes, print streams, application files, electronic forms, web content, multi-media files, and emails. OnBase is used by businesses and government agencies to automate business processes, reduce the time and cost of performing important business functions, improve organizational efficiency and address the need for regulatory compliance through the management, control and sharing of digital content with employees, business partners, customers and other constituencies. Visit www.onbase.com for more information.
Contact:
> Alven M. Weil > PR Manager > Hyland Software, Inc. > 28500 Clemens Road > Westlake, OH 44145 > Direct: 440.788.5887 > Cell: 216.526.9837 > Fax: 440.788.5987 > alven.weil@onbase.com > www.onbase.com
If you have questions regarding information in this press release contact the company listed below. I-Newswire.com is a press release service and not the author of this press release. The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies / PR Agencies submit their press releases once per week/month or quarter, make sure check the official company website for accurate release dates as our site displays the I-Newswire.com distribution date only. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information.
Immerse yourself in mystery and magic with two exciting new casual games from Focus Multimedia and Big Fish Games Studios, one of the world’s leading casual game developers. Hidden Expedition Titanic and Azada join Focus’ popular Revival range of super-budget price games and are available in a store near you.
Edraw Max enables students, teachers and business professionals to reliably create and publish kinds of diagrams to represent any ideas. With large pre-drawn libraries and more than 4600 vector symbols, drawing couldn't be easier!
New range of cards launched to make you the cover star.Hallmark Cards in partnership with OK Magazine has launched an exclusive and exciting new range of greeting cards that gives people the chance to give family and friends the A-List treatment.
Many people choose not to pursue an accident claim. The reasons range from knowing the insurance company will settle; to they don't want the legal hassles and expense.
Many individuals and businesses have always purchased their personal computers from a well-known provider to pre-conceived specifications. Increasingly...
The effectiveness of SEO and PPC Services are directly related to the quality and quantity of the performance data that they have to work with. If you are seeking assistance in achieving a higher ranking on search engine results, then we suggest you visit RankYourWebsites.com, specialist in this area. If you have found your attempts at optimization to prove fruitless, the representatives at RankYourWebsites.com will have a solution to increase your traffic.
http://www.vineyardsforsalein.com/ - online island vineyard for sale, vineyard for sale paso, texas vineyard for sale, washington vineyard for sale, tuscany vineyard for sale, vineyard for sale santa, vineyard for sale California
Mark Flanagan, Managing Director of Manchester health and safety, food safety and fire safety consultancy, Shieldyourself, discussed the Scores on the Doors scheme when he made a guest appearance on the BBC’s 5 Live Radio Show recently.
