Mortgage Loan Processing
The Values and Benefits of Mortgage Loan Application Process Automation
There is a lot to consider in the mortgage loan application process and many resources to consult in making the right decisions. This can be time consuming and expensive. Intelligent Process Automation (IPA) and Robotic Process Automation (RPA) can help alleviate some of that pain by reducing cost, expediting response time, and improving overall customer experience.
Consumer mortgage lending has a reputation for being paper-intensive. An average of 500 documents are generated per application—and that doesn’t even count loan servicing documents.
Modern borrowers (and brokers) do not want to deal with mounds of paper, and considering the risks of lost documentation, costly data entry errors and compliance violations, neither should you.
Revolutionize your antiquated, paper-laden traditional mortgage loan process with a solution that actively engages borrowers and lenders in a collaborative, accurate and transparent environment that includes both customer self-service and assisted service options.
Originate, Close, and Service Loans Faster and with Greater Efficiency
With a defined process, Intelligent Automation (IA) you can bring applicants seamlessly from your Loan Origination System through various integrations and third parties faster and more efficiently. Even tedious steps such as KYC (Know Your Customer) can be fully automated. Loan Officers are notified only when there is something outside of the specified “normal,” and to make decisions on these exceptions. Faster service improves customer experience and satisfaction.
- Make your customers happier.
- Make your process more efficient.
- Make your employees more productive.
Engage Customers in Real-time
Meet your potential borrowers where they want to engage – mobile, web, email, or branch – and provide near real-time visibility to all your process stakeholders.
Accurately Capture Documents
Ensure the accurate capture of supporting loan documents, resulting in a better user experience.
Simplify the Mortgage Process
Utilize best practices workflows to guide loan representatives and self-service customers from application through loan signing to speed processing and close loans faster.
Facilitate cross-organization collaboration through shared access to all relevant mortgage-file documents, built-in approval workflows, and streamlined exceptions management.
Accelerate Revenue and Closing Time
Capture required documents and data earlier in the process, facilitate proactive communications, provide greater process transparency and accelerate the closing of the loan and time to revenue.
Exceed Compliance Requirements While Improving Profitability
Reduce manual processing and operating costs while ensuring complete compliance, process consistency and audit ability to produce the zero defect loans your investors expect.
Make your 'everyday' easier and do more with IPA from DIG.