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When It Comes to the Mortgage Industry, eFax Means Business

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September 03, 2008

When It Comes to the Mortgage Industry, eFax Means Business

By Michelle Robart, TMCnet Editor

Due to the high-volume of time-sensitive documents in the mortgage industry, delayed or lost faxes can have a huge impact on day-to-day business. In addition, a growing number of loan officers require a dependable mobile faxing solution while traveling or working remotely. Fortunately, by faxing documents via e-mail with virtually no downtime, eFax offers a cost-effective and secure alternative to fax machines and fax servers that is changing the way the mortgage industry gets business done.

eFax enables mortgage lenders and processors the ability to immediately send and receive fax transmissions directly from their computers to anywhere in the world. Faxes can be sent to multiple recipients simultaneously, and multiple documents can be attached to a single fax transmission. Inbound faxes can be viewed, printed, stored, and forwarded --just like e-mail.
In the mortgage industry, loan processors spend a great deal of time printing documents and then manually faxing them to multiple recipients throughout the loan approval process. This outgoing fax process is often slow and unproductive. Many times a fax number is busy and repeated attempts are necessary before a transmission is successfully received. Also, the receiving process for the loan processor and fax originator can be just as unproductive. For instance, once a fax is received internally, transmissions can be misplaced or mixed up with other documents due to the use of a community fax machine.
With eFax, mortgage professionals are able to send and receive faxes by e-mail quickly and easily from any location. They can fund loans more quickly, having the ability to retrieve and respond to faxes from any desktop, laptop or wireless device with Internet access. They can also cut costs by eliminating the need for multiple fax machines or costly servers, dedicated IT resources, phone lines, maintenance and supplies.
To meet the time-sensitive demands of the mortgage industry, eFax offers the flexibility to fax at the office, on the road or when working from home. Faxes are sent and received through e-mail so documents are accessible 24/7—anywhere there is an Internet connection.
Because security of personal information continues to be a growing concern, eFax allows loan processors to send, store and save faxes digitally to help assure that documents are kept confidential instead of lying on top of fax machines for anyone to see.
Ultimately, eFax can be an extremely useful tool for an industry that relies so heavily on faxed communications. With the ability to send and receive faxes by e-mail, mortgage professionals are able to seamlessly perform their tasks quickly, easily -- and from any location. Also, since eFax is a digital faxing alternative that doesn’t require paper, it’s the perfect fax solution for businesses that are as eco (News - Alert)-conscious as they are cost-conscious. Proving that eFax is not only good for the mortgage industry-- but good for the earth too.

Michelle Robart is a contributing editor for TMCnet. To read more of Michelle's articles, please visit her columnist page.

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