Columbia, MD, October 28, 2010 --(PR.com
)-- Hard Money Bankers, LLC has announced that in an effort to reduce the amount of paper used in its business practices, the loan servicing department will now begin to provide investors with electronic copies of loan files as opposed to paper versions.
In contrast to the traditional method of mailing copies of post closing documents to each individual investor, Hard Money Bankers will begin to scan and store the files electronically. As opposed to having to wait for the delivery of the packages, investors will now be able to see them minutes after being processed at the Hard Money Bankers office. In addition to better serving their investors, Hard Money Bankers sees this as a good step in reducing their carbon footprint.
“The mortgage industry is known for using a lot of paper. By scanning and displaying the closing packages electronically we are saving a many pages of paper and therefore doing a service for the environment,” says Chris Haddon, Principal and head of the loan servicing department at Hard Money Bankers. “Although we’re not quite there yet, we are planning on setting up a system where borrowers are notified electronically of their upcoming payments and subsequently are able to pay their coupons electronically. We think that this will save everyone some money when it comes to stamps and paper, and is also a step in the right direction toward going green.”
Hard Money Bankers has already been accepting exclusively electronic applications for some time now. Jason Balin, Principal and primary underwriter says that electronic applications are not only better for the environment, it is easier to keep them organized and helps in the speedy review of applications, getting potential borrowers responses in a shorter time.
Also, Hard Money Bankers doesn’t use the traditional fax machines known for being a waste of paper. Any fax sent to Hard Money Bankers is received electronically and forwarded to the proper email address. With the large amount of faxes used in real estate, this has helped save many trees over the years.
To apply for a loan visit http://www.HardMoneyBankers.com
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