Saving and Sharing Documents
Overview: So where do I save the documents that I accumulate through the origination process or monitoring loans in the on-book loan portfolio? And can I save them where they can be shared by the entire origination team or others that need to see them?
With the Madison System you can save any electronic file in the Document Vault. And it can be saved in the appropriate spot in the application – loan documents are saved with the loan, collateral documents are saved with the collateral, contact documents are saved with that contact. With documents associated with contacts, for example, they are saved once and automatically are available for any loan with which that contact is associated.If you get electronic appraisal files, say in Word or as PDF file, they can be saved with the collateral or valuation record. If you have photos of collateral, or collateral inspection forms, of borrower financial statements and tax returns in electronic formats, they can be saved in the System.
Why is this important? The documents can then be viewed online by any user with the appropriate permissions, saving time and effort looking information up in paper files or requesting it from the person that has that file. Documents are safer and more secure.