As part of JMAC’s commitment to industry innovation and environmental concern, effective Jan. 16, 2017, all loans are being processed electronically.
“Our initiative to Go Digital and operate with paperless processing will save our environment and the company 10 million pages of paper each year,” Vice-President of Operations Mai Nguyen said. “Digital processing will increase efficiency and streamline the loan process. Our goal is to make our process easier for our customers.”
Brokers are expected to experience some differences in the lending system with the new processing method. One of these differences is how the uploaded documents are processed. Prior to the Go Digital initiative, a customer would always maintain access to the original loan documents. Now when a customer uploads loan documents, JMAC indexes these documents and the customer can no longer access the original files. It is recommended that customers keep a copy of the submitted files for additional reference.
Once the loan documents are submitted, customers will have access to any files provided by JMAC in the loan document list, such as loan approval, suspensions, confirmations and disclosures.
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