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New Technology Geared for TPOs to Go Paperless By Anthony Garritano Traditionally third-party originators had to either depend of their processing system or their lender's technology to go paperless, but now two new vendors, ATLOS and DocVelocity, have come to market with application designed specifically for TPOs to get the benefits of paperless processing and electronic document management. ATLOS was started by an originator who was dissatisfied with the technology offerings currently available. "I started off nine years ago as a subprime loan officer at Ameriquest," remembered Randall Nachman, ATLOS founder. "From there I evolved into being a broker. I wanted to move on and become self employed. "As a broker I used the popular software products. I started off with Calyx. Initially I was working through a net branch. I was licensed through them and I learned a lot. I learned to work a loan and control an office. Quickly I learned that to manage other parts of the process on my own after I left the net branch I realized that there was a gap in Calyx. "At my prior company, we can up with an intricate fee structure," explained Mr. Nachman. "I wanted to take that commission structure and provide that to my employees when I went out on my own. However, I wanted to offer more administrative functionality as well. We figured quickly that we weren't going to be able to manage payroll on an Excel spreadsheet. We only had a handful of loan officers and it was taking us three to four days just to manage payroll. So, I found a developer to create a Web-based tool to manage payroll." From this, ATLOS was born. The application offers an integrated Web conference solution similar to Webex, an integrated soft phone, integrated payroll and a portal-based electronic signature process for all loan disclosures. ATLOS includes document imaging/management, barcode recognition, routing, inbound/outbound faxing of documents and auto generation of conditions. "It took us six months to come up with the different variables and calculations to manage fee caps, credit reports, etc., and when the product was finished we saw an immediate impact," said Mr. Nachman. "We can figure out payroll in minutes now. I thought, this is having such a dramatic impact, why not take a step back and use this to manage the pipeline. So we created a way to register the loan and a processing piece to manage a paperless file." ATLOS' barcode recognition software allows the user to fax batches of documents to a pre-set fax number. The processing system receives the fax and sorts all of the documents to the correct loan application. ATLOS will also store the files in secure online file folders.

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