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.
Given these stats, there’s got to be a better way.
Doc I Group understands the importance of efficient Invoice and AP processes. Our invoice processing and AP automation solutions streamlines the process of capturing invoices to increase processing speed and reduce data entry costs. Our tools enable you to leverage best practice workflows to expedite invoice review, coding and the approval processes for fast return on investment. Find out how our customers achieve best-in-class AP automation metrics and improve service levels for these benefits:
- 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 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 Collaboration
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.
