From: REALTOR Magazine

About 50 percent of mortgage professionals believe the industry will go paperless in the next three to four years, up from 28 percent in a similar 2008 survey by the National Mortgage News.

Xerox Mortgage Services Vice President Greg Smith said that the current high level of demand for compliance is slowing the transition. But as the market gains momentum, he believes, so will electronic processing.

About 69 percent of respondents said they were already seeing increasing use of electronic disclosures. Some 79 percent believe that pushing the envelop on this transition is important because it decreases turnaround and processing costs.

Source: National Mortgage News, Bonnie Sinnock (08/09/2010)