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Outsourcing Mortgage Loan Processing

MortgageMortgage Lenders need to quickly make information available to its distributed workforce and reduce cycle times. Major originators of home loans implement integrated document management solutions to help meet these needs. Processing billions in loans annually, lenders deploy COLD processing, e-mail capture, document imaging, workflow and remote access and printing capabilities fully integrated with its LOS (loan origination system).

Mortgage lenders want to increase operational efficiencies by implementing a document management system that would integrate and communicate easily with its existing loan origination system (LOS). These financial institutions want to provide quick access to crucial loan information to employees in a variety of locations. The ideal solution would create a system that would streamline processes while remaining flexible enough to accommodate different situations.

To reduce cycle times, lenders want to automatically route loan files to the appropriate person/department for review. Regardless of how the information was received (e.g. fax, e-mail, paper), these lenders require systems that accurately sort and forward information as well as satisfy all federal, state, local and internal rules and regulations. Another goal is to automate the process of printing and sorting of files for investors.

These documents can be automatically routed and processed for review and approval using Workflow and E-Form modules. Remote employees can access document repositories and workflow modules by using the Web.

Not only do these systems support the printing of files for investors, reports can automatically be printed directly to remote locations based on keywords. These solutions are used by workers in Originations, Underwriting, Post-Close Audit Review and Shipping.

Document Imaging solutions can deliver a 100% increase in productivity and speed for post-closing processes. Time spent locating needed loan files and/or loan documents can be reduced by up to 90%, empowering the lender’s customer service operations by enabling immediate response to requests.

Results:

  • 100% increase in speed of post-closing processes
  • 90% reduction in time spent looking for documents
  • Dramatically improved customer service

 

More Information
Contact DIT
714.529.7600
Dit info@dit-solutions
Resources
Mortgage Process Competencies
Web Based Document Hosting Overview
Loan Processing Workflow Diagram
Cost Reduction Analysis

Dit Solutions