Mortgage Lending
Automating Mortgage Income Verification
Learn how Intelligent Automation simplifies the process of analyzing the information required to make effective loan approval decisions and raises customer satisfaction.
Intelligent Automation for Banking
Get an overview of the past and the future of automation in banking and learn why Intelligent Automation is the best solution to the challenges the banks face today.
They will help you select the best use case for your business and demonstrate how to scale the automation further with Intelligent Automation Cloud.
Mortgage lending is changing
Today’s customers have high expectations for fast turnarounds and instant service. Operations teams stay busy routing documents, rekeying critical data and keeping legacy systems aligned. Adding more people to your teams isn’t always an option, which is why WorkFusion has mortgage automation solutions designed to help your business focus on creating lifelong customers.
Raise profitability, close loans faster and strengthen your compliance with automated processes built for the mortgage industry.
Conventional approaches have room for improvement, as they often are:
Challenges are only getting tougher
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Competition
Nonbank lenders are changing the industry and cutting into market share traditionally owned by large banks.
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Changing tastes
Millennial attitudes toward mortgage buying and their financial pressures make marketing to them and managing them different and difficult.
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Outdated systems
Legacy, sometimes mainframe-based, systems result in endless rekeying and reconciliation tasks which are error-prone and mindless for employees.
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Regulatory pressures
Not properly evaluating the ability to repay can result in hundreds of millions of dollars in fines.
Adding Intelligent Automation across mortgage processing helps improve service and streamline operations
WorkFusion® Intelligent Automation solutions for mortgage processing can be deployed across the entire loan lifecycle to drive operational efficiency and shorten the time it takes to close and service loans.
With Intelligent Automation:
- income verification documents, data, and images are classified and streamlined into formats your underwriting teams can quickly digest and analyze
- insurance updates and changes are routed, saved and stored to protect your loans and offer customers real-time responses to common insurance adjustments
- legal obligations like SCRA regulations are met, thus improving compliance efficiency
- legacy systems are automatically reconciled with excellent data accuracy
From routing the inbound requests to reading, extracting and unifying the formats of inbound documents, WorkFusion Intelligent Automation allows teams to spend less time in front of documents and more time ensuring the lifetime value of your customers.
They will help you select the best use case for your business and demonstrate how to scale the automation further with Intelligent Automation Cloud.