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MBA Pitches 'New' Paperless Technology

ATLANTA-The Mortgage Bankers Association plans to debut a 'smart' document within the next two months that will allow electronic property appraisals to be read by everyone.

By Stacey Corso | Updated on March 18, 2002

ATLANTA-Popular two years ago before a new round of refinancings stalled electronic property transaction development, the Mortgage Bankers Association plans to debut a ‘smart’ document within the next two months that will advance paperless deals to new levels.

“The single, most important development in paperless loan technology” to date is how David Whitaker, a law partner in Washington, DC-based Goodwin Proctor LLP, describes the concept to GlobeSt.com.

“Electronic appraisals will be able to be read by everyone and it will make a huge difference for county recorders,” Whitaker says. “Smart data will make them be able to automate all of these functions instead of handling them manually.”

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