The mortgage industry is cyclical by nature. Your processes need to be streamlined and efficient to be able to handle the volume of business in the cycle’s peaks.
Over 85% of the mortgage process can be automated, shifting tedious, repetitive tasks from people to machines. Use automation to ease your bottlenecks, so you can earn more business.
Automation shortens the time to decision, increases quality of submissions to underwriters, and improves borrower satisfaction. Human roles will move from inputting and reconciling data to overseeing self-running processes executed by bots.
Automation technology tools:
- Robotic Process Automation (RPA)
- Because the mortgage workflow has a relatively predictable list of steps, bots can mimic screen-based human actions such as reading and transferring data between systems
- Intelligent Document Processing (IDP)
- Automate data extraction from various document formats (such as bank statements for income calculations and cash flow analytics)
