Underwriting

OPPORTUNITY – Mortgage banker would like to speed up loan approval turns 1) to improve operational profits and 2) to improve competitive position for loan turn-around.  Additionally banker would like to eliminate the risk associated with lost loan documents during a period of escalating loan volume.

SOLUTION – Loan documents (application, appraisal, title report, credit report etc.) are scanned and stored in a digital record.  The record is digitally routed through underwriting process to speed hand-offs and improve underwriter access to fully prepped files.

BENEFITS

·         Mortgage record posted is always up to date

·         E-mail or Internet access for immediate sharing

·         Underwriting Cycle time doubled, cost reduced by 80%

·         Underwriting cost dropped from $250 to $60/ loan