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MORTGAGE
In the mortgage world, paper piles up quickly … very quickly. This was the case for a Harrisburg-area mortgage broker who, with the assistance of File-X, grew from working out of his house to being one of the largest brokers in the U.S.
As everyone knows, there is a lot of paperwork in the mortgage industry. Mortgage documents get passed around to a multitude of different people and departments. In addition, it is often very important to safeguard documents with regard to disaster recovery and GLBA compliance.
The Solution
Initially, the mortgage broker had file cabinets of back-file mortgage documents he wanted stored electronically so he could free up more room for new documents. File-X provided the mortgage broker with a back-file conversion on Turnkey CDs. As the business grew, the broker had to move away from using CDs to a searchable VFR (Virtual File-X Room). The back-file CDs were migrated to the VFR. With the new system, File-X was also able to add new documents to the VFR via the Internet. The new system allowed the mortgage banker to work quicker and stay ahead of the competition.
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