Mortgage Loan Origination
Mortgage Loan Origination Software
Our Mortgage Solution integrates seamlessly into your existing loan origination system to streamline and speed up the origination process. It adds intelligence and workflows to each loan ensuring underwriters evaluate loans faster. 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 (e.g. “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.
With our Mortgage Solution, lenders can quickly finish up the post-close process and sell loans to the secondary market or onboard into servicing faster. Since the secondary market often drives priorities, our solution allows for ad-hoc prioritization and more.
This means financial institutions can change teams’ priorities for short-term prioritization on a monthly, weekly and even daily basis.
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. We offer a different approach by turning your business policies into automated workflows.
- An optical character recognition capability extracts key data from documents.
- Documents and loan data automatically run through your business policies, perform a comparisons and flag exceptions if found. 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.
- 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.
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Additional Features & Benefits
See what your team is working on today, tomorrow and the next day. This kind of view and information provides managers with a way to adjust workloads and perform ad-hoc prioritization.
As a huge disruptor to the financial industry, traditional banks will need to join the blockchain movement to keep up with emerging digital competitors. Read on to see 4 of the major ways banks today are using blockchain to streamline processes.
First impressions count, and unfortunately, 40% of consumers have been disappointed with their initial banking onboarding experience to the point where they abandon the process altogether. Banks have gotten complacent with their onboarding process. With so many changes in consumer behaviors, industry trends and technology offerings, it’s easy to put new client onboarding on the back burner.
First impressions count. That’s why the client onboarding process that banks provide has to be good. If a client has a bad experience with your bank while they’re trying to become a customer, what does that tell them about the rest of the experiences they’ll have? In a competitive market, banks have a lot to lose if their first impression isn’t an impressive one.