|Paper File v. DOCUFIRST E-File||Paper File||DOCUFIRST E-File|
|Legal File Folder||$1.06||NA|
|250 Pieces of Legal Paper||$4.50||NA|
|Toner for 250 Pieces of Legal Paper||$3.98||NA|
|File Fastener, and 8 Dividers||$3.41||NA|
|Storing Paper Files On Site (3 years)||$29.00||NA|
|Total Price||$41.95||$ 4.95|
There are several factors that influence the overall cost of creating a loan file. The most obvious cost is the production of the file. Averaging 250 pages, loan files require lenders to purchase paper, toner, folders, file fasteners, and dividers – adding up to $13-$15 per file. Buying file cabinets and storing those files for 3 years costs another $30 per year per file, for a total of $45 per file.
With DOCUFIRST, you can create, manage and store that file for only $4.95. For the average mortgage company that processes 10 mortgage loan files per month, the cost savings are nearly $4,500 per year.
Time = Money
DOCUFIRST reduces inefficiencies and speeds up the loan origination process. Paper filing results in errors, lengthier loan processing, billions of dollars associated with paper loan file production and retention, and little transparency into processes.
Processing loan files electronically increases productivity, improves online collaboration, and limits errors. Moreover, because DOCUFIRST is a web-based software, lenders save significantly on IT infrastructure and staff. Easy to integrate and easy to use, DOCUFIRST can be up and running in 24 hours. Get started today!
- Save on paper supplies and storage
- Protect against loss of data due to natural disasters
- Reduce Labor Costs
- Diminish Costly Errors
- No IT staff or hardware needed