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Visionet Uses Proprietary Technology to Deliver HUD-1

Visionet Uses Proprietary Technology to Deliver HUD-1 Statements in Thirty Minutes or Less Cranbury, NJ, June 18, 2013 – Visionet sets a new best practices standard for delivering complete and accurate HUD-1 statements in under 30 minutes. This 30-minute window applies to even the most complex HUD-1 statements, and includes both automated processing as well as full manual review, delivering accuracy of 99.9%. Basic HUD-1 documents can be prepared in approximately 5 minutes. Visionet accurately processes 30,000 HUD-1 documents each month, achieving Six Sigma quality levels.

Visionet leverages technology to generate HUD-1 settlements by interpreting lenders’ closing instructions, verifies the accuracy of all fee calculations, and ensures that they incorporate data from the Good Faith Estimate (GFE). In minutes, AutoHUD provides most of the information required to prepare accurate closing documents.

Visionet offers seamless integration with customers’ HUD preparation systems. All of its web interfaces are user-friendly and provide tools for viewing and editing HUD documents.

“We couple cutting-edge technologies and a highly qualified team to create a new standard for HUD preparation. 30 minutes is the new standard that the financial services industry is demanding, without compromising quality,” said Bill Welge, Principal, Mortgage Solutions at Visionet. “We are excited about our HUD technology; it rounds out Visionet’s line of settlement solutions, covering pre- and post-closing review, nationwide recording services and policy preparation for a truly seamless process.”