How does BeesPath work?
1. Loan documents are imaged at the settlement office
2. Settlement, recording, and other data for the loan is extracted from the settlement system or manually captured
3. Document images and data are posted to the BeesPath system
4. Recipient views the documents online or downloads an "ePackage" of data and documents (manual or automatic, "push" or "pull")
Do lenders and other mortgage participants accept electronic documentation?
Many mortgage lenders, title and settlement companies, and investors are accepting electronic documents instead of paper. More industry participants are becoming enabled all the time. Presently all lenders and investors still require the Promissory Note to be delivered in paper form.
How do I receive documents?
Documents are organized into electronic loan packages that you select and download to your local computer. We recommend using our free Download Manager utility to automate the download process. Optionally loan packages can be posted to your server using either the ftp, https or other protocol including custom procedures if necessary.
How do I upload data from my existing title and escrow systems?
Most title and escrow systems allow data or images to be exported into some readable computer format such as PDF, TIFF, XML or formatted text. Contact us to talk about pre-built Adapters for importing your data directly or to discuss your specific requirements.
What type of scanner do I need?
Most copiers have built in scanning capability and this is the easiest approach for most customers. However, if a customer wants to use a desktop scanner, It depends on the type of scanning they want to do. For "ad-hoc" scanning (i.e., light-volume scanning of documents as they are received in association with a file), typically a portable scanner at most or all of your BeesPath workstations can suffice. For "production" scanning (i.e., medium- or high-volume document scanning), typically a user will want a high-speed scanner with an automatic document feeder at a dedicated scanning station.
Can I OCR the documents that I have scanned?
Yes. Though BeesPath does not include an OCR (optical character recognition) component, scanned documents can be easily copied to your clipboard and pasted into an OCR program, such as OmniPage. This will convert the scanned graphic image to text, which can then be edited or pasted into a Word Processor. A basic OCR program is also typically part of the software package that comes with your scanner. Depending on your OCR needs it may be advisable to upgrade the basic OCR programs.
What are the requirements for the scanning workstation?
If your computers meet the BeesPath system requirements, you are fine. Extra RAM is always encouraged.
What if I already have an Imaging and Indexing system?
Your document images can be exported from most systems and imported directly or uploaded into BeesPath. Contact us to talk about specific details.