There are approximately 55 million custodial files in today’s mortgage environment, all dependent on physical documentation and archaic processes. While many elements of the mortgage landscape are being transformed with technology, custodial workflows are one of the few areas where a digital approach has not yet been successfully adopted.
Even as adoption of electronic records and workflows skyrocket, the value propositions for digitized documents—security, cost effectiveness, accuracy, convenience, speed—have not carried over to custodial workflow, which remain dependent on physical files.
This white paper will outline the benefits of digitizing custodial workflows and provide a look at one possible solution for introducing automation into the process.
Publisher: Iron Mountain
Date: June 2021
