Loan Document Management
The Problem: The mortgage process is known for being fragmented from a technology perspective.
Your users have to re-key data at a multitude of different phases and much of a loan's progress relies on manual, time-consuming delivery to the next stage of the workflow. One of the responsibilities that you have of includes compliance with an increasing number of mandated regulations and audit requirements. The mortgage loan process requires a tremendous amount of coordination between both paper and electronic documents.
As a result of the efficiencies gained through the use of technology and automation, the cost of obtaining a mortgage has decreased. Your Customers have been encouraged to refinance when rates drop only slightly, as opposed to several years ago. Previously, refinancing was only considered an option if the rate dropped by at least 2%. This was, in large part, due to the cost and hassle of refinancing.
When interest rates drop, or remain affordable, the number of mortgage applications increase dramatically. As a result, you now face a high demand for new or refinanced mortgages, coupled with a shortage of experienced lending officers and credit personnel. This scarcity of skilled workers, in turn, may increase the crdit risk of new mortgages and potential future losses.
The Solution: Konica Minolta combines the best of breed capture technology with leading edge document management and workflow solutions.
Our solutions provide organizations with unparalleled automation, visibility and control of the mortgage process, giving companies the ability to realize significant benefits: reduced loan application processing cycles, streamlined efficiencies including measurable savings in administrative costs and more efficient information retrieval, leading to enhanced accountability which optimizes corporate performance.
Here's How It Works:
Mortgage Solutions Brochure:
In today's complex business climate, typical mortgage bankers and brokers are creating, managing and storing millions of pages of documents. To meet this challenge, Konica Minolta can help you easily integrate a document management solution with your Loan Origination System (LOS).