Maintaining Quality Through Easy Electronic Previews

Cornerstone Mortgage Company

Founded in 1988, Cornerstone Mortgage Company is headquartered in Houston, Texas, and has branch offices throughout Texas, Arizona and Colorado. Its affiliation with First National of Nebraska, the largest privately held bank holding company in the U.S., gives Cornerstone the authority to make mortgage loans in all 50 states.

The Situation

Cornerstone needed faster transmission of closing packages, with no impact on network configuration, and no involvement of the IT department. The solution also had to preserve the sense among document recipients that the papers were prepared by the loan-originating Bank, not Cornerstone Mortgage, the third party service provider. SwiftSend was their ideal solution.

The Challenge

A full-service provider, Cornerstone Mortgage Company had long managed its business using paper, where mortgage documents are created on computers, printed, assembled, and then couriered to the closing. This means that any mortgage packages delivered out of the processing office’s immediate area take at least a day to arrive. If anything is wrong with the paperwork, the entire package has to be re-created sent or couriered again, often adding at least a day to the process and postponing the closing.

Cindy Annis, senior vice president for Cornerstone, saw the delays and knew the paper-based system had to change if the company was to remain competitive, efficient, and cost-effective. Cornerstone prides itself on eliminating inefficiencies, approving loans quickly, and providing a superior service at a low price. With a web-based electronic document delivery system, Annis saw that Cornerstone could eliminate the risk of postponing a closing that comes with sending paper documents. She also realized that the right system could greatly improve the document processors’ efficiency, allowing them to manage more loans each month.

The Solution

SwiftSend’s unique solution answered several of Annis’ logistical questions. First, the system had to install quickly and without disrupting the workflow, so that Cornerstone’s busy document processors would not fall behind. For the same reason, the system also had to be simple enough for everyone to learn without much training time. The system also needed to have the sophistication to handle levels of security, proof of delivery, and Cornerstone’s special needs, such as displaying each different partner bank’s name on the electronic transaction screens.

SwiftSend fulfilled all of Cornerstone’s requirements for electronic delivery. In SwiftSend, they found an extremely easy-to-use, but secure system that partner banks could easily customize to display their own names, not Cornerstone’s, on SwiftSend screens. The very reasonable pricing with no-upfront costs was a bonus.

The Results

With SwiftSend, Cornerstone eliminated delays associated with sending paper. Closing packages now transmit in minutes – no printouts, copies, overnight shipping, or delays while couriers run to the closing company. Quality is maintained because SwiftSend makes it easy for each document processor to preview the package online before sending. SwiftSend’s ease of installation and use, and free technical support made the transition to electronic document delivery painless.