By Anna Morris, Account Executive, Banking & Financial Services

This blog is part three of a three-part series about my experience acquiring a mortgage loan from one of the top 10 U.S. mortgage lenders. Part 1 was about wasted time in the process and how to solve it with electronic signatures. Part 2 was about the frustration of lost/misplaced documents and how an automated capture solution could’ve helped.  


Mystification is typically not a word that I like to associate with a process – especially if the process involves my money.  

Unfortunately, “mystification” best-fits my mortgage experience. I started the journey towards my dream home with what looked like a path of gold stones in front of me. I would take a step and stumble backward disappointed because I realized it was fool’s gold.

I constantly had to ask my Loan Officer the same four questions over and over:

Where are we in the process?

How long will this step take?

What do we need to do to move on?

What is the next step?

And his answers were always the same.

Well, if xyz happens, then abc will happen, which will take approximately [insert a high number here] days.

His estimates were usually wrong which told me that he himself did not have clear visibility into the process.

I kept thinking about how my bank would benefit from a document management solution, like Pyramid eXpeditor (PX) for Mortgage.

PX for Mortgage provides a clear view of a mortgage from a single interface. With features such as the ability to view all documents and key properties in a tabular display, add tags to documents to indicate their status or purpose within a case, track case communications with a comment feed, and create in-baskets to accommodate changing workloads, any underwriter or loan officer would be able to answer my four simple questions.

A document management solution would help my Loan Officer effectively communicate exactly where in the process the loan is, what tasks the underwriter still has to complete, and what step is next. He would have complete intelligence surrounding the estimate to complete date (i.e. if the loan is on track to meet the date or if it is at risk of being late), which would significantly decrease the stress levels of everyone involved.

These kinds of capabilities and this level of visibility also enables the customer to be proactive because they can see which documents the bank still needs, and it gives them peace of mind because they can see the loan’s estimate to complete date and if it is on track with the close date.

The mortgage process is complex – no question about that. But it does not have to be that way for the customer. Electronic signatures, automated document capture and workflows, and comprehensive document management technologies reduce the time it takes process a loan which will make customers – and the bank – happy. Banks that adopt these technologies and grasp these concepts will experience loyal customers that keep coming back.

So if you work with mortgages I ask you, why can’t the mortgage process be the least stressful part about buying a new home?

…Ultimately giving me more time to think about how I want to remodel my kitchen…


Read our case study “National Mortgage Lender Eliminates Dated Stare-and-Compare Processing Methods.”

About the Author: Anna is a key member of the Banking & Financial Services Team who brings excellent problem-solving and relationship-building skills to the table. Her goal is to reduce customer frustration and enhance process efficiency for all our clients. Outside of work, find Anna in the outdoors dirt biking, running or playing with her dogs.

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