Pyramid eXpeditor for Mortgage

Loan Origination

Post-Close

Correspondent Lending/Servicing

Hassle-free software that puts you ahead of the competition.

PX for Mortgage is an end-to-end software solution. It enhances and automates the mortgage process – from loan origination to post-close to correspondent lending/servicing  – so you can close more loans faster with fewer resources.

Loan Origination

PX for Mortgage streamlines and speeds the document-centric origination, processing and underwriting processes. It adds intelligence to documents to help underwriters evaluate loans. It does this through various features including:

  • Visual tags: Originators and processors can tag loan documents to visually identify where documents are in a process (i.e. “waiting for signature”) or any document-specific decisions or exceptions.
  • Bookmarks: Users can bookmark extracted data for future one-click access. For example, a user can bookmark a page as “First Payment Date” so if someone in post-closing needs to see that date, they can click on the bookmark which will take them directly to that document page.

Post-Close

PX for Mortgage helps you finish the post-close process as quickly as possible so you can sell to the secondary market or onboard into servicing. Since the secondary market often drives priorities, we added ad-hoc prioritization to PX for Mortgage’s features.

This means financial institutions can change teams’ priorities for short-term prioritization on a monthly, weekly and even daily basis.

Correspondent Lending/Servicing

The number one challenge with correspondent loans is validating documents against data. Many organizations perform this process with the stare-and-compare method. However, comparing countless documents to collected data is grueling and error-prone. PX for Mortgage offers a different approach by turning your business policies into automated workflows.  

  1. An OCR (optical character recognition) capability extracts key data from documents.
  2. Documents and loan data automatically run through your business policies so PX for Mortgage can perform a comparison and flag exceptions. Instead of wasting employees’ time reviewing information that’s wrong and right, the software reviews everything and they only have to spend time looking at and resolving incorrect information.
  3. It presents the user with a prioritized list of exceptions.

This makes servicing a standardized process so your organization can apply policies faster and more accurately and easily remediate exceptions.

Additional Features & Benefits

Purchase-Portfolio Performance

Dashboards can show things like how well your loans conform to policy. It classifies exceptions to provide guidance on which loan packages cause more exceptions. This also produces great training opportunities for sellers and branches.

Pipeline Reports

Pipeline reports show what a team is working on today, tomorrow and the next day to help them stay organized. This information allows managers to adjust workloads and perform ad-hoc prioritization.

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Exception Categorization

PX for Mortgage categorizes exceptions based on level of difficulty so exceptions go to employees with the appropriate skill level. This makes exceptions faster to resolve so employees are more productive. It also permits an organization to leverage their full range of employee skill levels.

Comment Feed

A comment feed is a space for users to capture conversations and communications regarding a process. If a user contacts a colleague or vendor to discuss an exception, they add that information to a running log of all phone call, text message and email communications. This adds intelligence to the loan case so anyone can pick it up, read the conversation log, and have full understanding about its evolution.

Additional Resources

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PX For Content Bookmarking Viewer Video

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Poor Visibility: Top Process Failure Driving Customers to Abandon Mortgage Onboarding

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…

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