Monday, April 28, 2008

Lender Fax Submissions are a waste of time.

It seems that some lenders out there have not caught up with the 21st century yet. Lenders that make you submit files hundreds of pages long via fax are not seeing the big picture. Not only is it a huge waste of time on everyones part, but frequently the faxes do not even finish transmission. This forces processors to waste untold hours sending faxes that will end up hardly even legible. Then if the entire fax does get through the lender is likely to lose it before it even gets to their desk. There is a better way and we all need to get on board. Are you listening HSBC?

Wake up Lenders! Hire a webmaster to build you an infrastructure for your business. Scanned documents e-mailed to you have the following benefits for all:

- Faster transmission
- Better clarity
- Simple electronic storage (how many faxes do you lose a month)
- No long distance charges for your customers
- Does not tie up your customers faxes for hours
- Can be sent again in a matter of seconds if lost

Seriously, most lenders are scanning all files for electronic storage anyway. Why not accept the files in Adobe format, have a virtual file with all the pieces accessible at any time that you can work from. It's the 21st Century - and it's time lenders started catching up with the rest of us.

Pete Temple
National Operations Manager


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