Automating post close processing for higher profitability, efficiency & compliance
As lenders’ profit margins decline in a purchase market due increased competition and dropping origination volumes.
Ensuring the efficiency of post closing process of existing loan volumes can significantly improve profit margins.
Download the whitepaper to see how as a mortgage lender you can streamline your post close quality process by automating document collection, data quality checks and quality control reviews. Achieve three competitive advantages:
Reducing post close costs by 30%.
Improving secondary market opportunities by eliminating buy-back risk.
Reducing compliance risk.
Automating post close processing: higher profitability, reduced buy-back risk, better compliance
Most post closing systems are manually intensive making them time consuming and error prone. This results in critical defects in loan documentation that could result in the loan being uninsurable or ineligible for sale.
Streamlining the post close quality process by automating document collection, data quality checks and quality control reviews offers three benefits:
Lower cost per funded loan
Post close process automation can lower post close costs by 30% and minimize loan defects to ensure zero hold back funds.
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Improved process efficiency
Reduced manual review increases efficiency across trailing document handling, insuring audits, investor loan file assembly etc.
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Reduced compliance risk
Improves compliance with TILA, RESPA, HMDA and CFPB final closing disclosure delivery.
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Automating post close processing for higher profitability, efficiency & compliance
Download the whitepaper to discover how AI powered document processing automation:
automatically captures, indexes, classifies and stores documents ensuring a proper version controlling
Can extract unstructured borrower data from indexed documents with 99+% accuracy
Verifies extracted data points with LOS & flags data errors across 2000+ data fields.
Automatically validate loan files against post-close audit checklists - TILA-RESPA, HMDA etc.