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A New Report from Aite Group |
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Boston, MA, September 26, 2007
– A new report from Aite Group, LLC explores the current usage of SMART Doc technology by the U.S. mortgage industry and how it can be
used to achieve a true paperless environment. The report also examines some of the challenges that must be overcome before widespread adoption
will be achieved. One hundred mortgage brokers and lenders and 400 U.S. homeowners were surveyed by Aite Group in April 2007 in an effort to
better understand their feelings toward SMART Doc technology, and the intentions of lending institutions to adopt such a strategy.
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The report, "U.S. Residential Mortgages: Where Is That SMART Doc?" found that all of the top 20 lenders currently
have in place some sort of SMART Doc technology, though adoption beyond this group of lenders has been minimal. Current market conditions such as the need to
improve efficiency, cut costs and increase process transparency, however, are driving greater demand for this type of technology.
"Use of SMART Doc technology can result in savings of more than $2,000 per loan," says Christine Barry,
research director at Aite Group and author of this report. "With the refinance boom now behind the United States, lenders need to identify ways to cut costs
and make up for lost revenue to survive in today's competitive market."
This 28-page Impact Report contains 15 figures and 1 table. Clients of Aite Group's Retail Banking Service can download the report by clicking on the icon
to the right
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To purchase this report or
for additional information,
please contact:
Aite Group Sales
Tel: +1.617.338.6050
sales@aitegroup.com |
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