Wasting logs of paper.

[Demoivre]

Hi everyone,

Ive recently made purchases on two properties consecutively and really question the effective use of paper from lenders. I get big bulky packages which in my opinion is really a waste. I wish it would be electronic, but with all the security reasons it might be useless.


Any thoughts?

 

[Jamie M]

Some are starting to move to e docs - there's still some printing that occurs but in general it cuts down on the use of paper.

Same goes with applying for a loan - my company and others have moved towards a paperless system.

Cheers

Jamie

 

[Rolf Latham]

Cba third party are ready to go now. Pilot project been running for a while

Issue is the lad title offices still need wet sigs so until that's resolved there is little reason for lenders to adapt to same

Ta

Rolf

 

[Ace in the Hole]

AMP was the worst I've had.
It was not less than a full ream of A4 paper.

CBA was by far the best few bits of paper and a few sigs required.

 

[Of The Vultures]

^ This, on both counts. AMP was so ridiculously overboard with the amount of paperwork. A simple loan split which with CBA took barely a one or two page form was a giant stack of documents with AMP. Plus they sent it twice.

Hopeless.

 

[Ace in the Hole]

^ This, on both counts. AMP was so ridiculously overboard with the amount of paperwork. A simple loan split which with CBA took barely a one or two page form was a giant stack of documents with AMP. Plus they sent it twice.

Hopeless.

Now that you mention it, I got it twice from AMP too !!!
Due to a small discrepancy in terms for the first truckload of paperwork sent.

 

[Demoivre]

Same goes with applying for a loan - my company and others have moved towards a paperless system.

Cheers

Jamie

That's so good. The amount of paper wasted with the last two purchases really surprises me that they haven't decided to change sooner.

 

[Jamie M]

That's so good. The amount of paper wasted with the last two purchases really surprises me that they haven't decided to change sooner.

There's still some very old school processes among banks - ANZ still does a lot of faxing!

Some lenders are moving towards allowing supporting docs to be uploaded on line too which should cut down on the use of paper as well.

Cheers

Jamie