Accelerating Mortgage Processing

Today's Competitive Market

There is little customer loyalty left in today’s market. Even existing banking customers are going to shop around when it comes to big ticket financial commitments like a mortgage. Their options have expanded to include on-line loan originators as well as traditional brick-and-mortar competitors.

You already know that customer experience is the new basis for competition. In the mortgage business, you also have to consider the experience of the external professionals you rely on to originate or close the deal – they often influence the consumer’s choice of lender.

If your mortgage processing department is slower than the competition's you are losing market share day by day. Eliminating the wait time built into the system is a key determinant of success.

How Automated is Your Mortgage Process?

Imagine your loan processing department generating the required statements and documents, uploading them to a secure transfer server and sending email notifications to applicants, inspectors, underwriters, title insurance companies and closing lawyers. They complete their piece of the process and drop the files back into the transfer server. Notifications are automatically sent to the processing agents that the documents are completed.

You've eliminated wait times and overnight deliveries. The process is more convenient for your customers and partners alike. And you've optimized productivity in the loan processing group. The use of modern technologies, like MOVEit, can transform the application and approval process, removing errors and eliminating wait times with automated routing, notifications, file integrity checks and guaranteed delivery.

How MOVEit Helps

MOVEit enables full control of the entire process. It pushes and pulls documents between mainframes and servers and SFTP servers. Complex logic based workflows can easily be constructed to route everything where it is needed and when - with zero wait times. The entire process is fully automated so no file sits undiscovered, no loan agent sits waiting – they get an email telling them what is in the queue and can move the process forward. The entire process is documented in audit logs so you can examine errors and further optimize at will

Reducing IT Operations Costs

Of course all this automation has to be affordable and that is why IT departments love MOVEit. The system is easy to use and straightforward so you spend less time building out new workflows and on-boarding external users.  MOVEit Automation’s web-based UI makes creating even the most complex tasks and workflows straightforward. Customers can implement even complex mortgage processing systems in days.

SLAs become easier to manage as well. MOVEit sweats the details like checking file integrity on pick-up and drop-off, automatically retransmitting when there is a send failure and documenting every aspect of the transmission. You have complete visibility and a well-documented audit trail that even includes admin modifications to tasks.

Need high-availability? MOVEit high-availability cluster configurations and fail-over options assure business continuity at every step. You can also rest assured that the MOVEit system is secure and handles sensitive and regulated data in compliance with data protection regulations.