A Success Story of Real Automation: Enhancing Document Indexing for Faster Loan Processing
Customer Overview
Our client is a full-service direct residential mortgage lender founded in 2002 and headquartered in Cherry Hill, New Jersey. Operating in multiple states, they offer a range of home loan products through Retail and Wholesale channels. As a Fannie Mae-approved seller/servicer and HUD-endorsed lender, they handle FHA, VA, USDA, Jumbo, and other traditional loan products.
The Challenges
The client faced significant delays in their document indexing and review process due to the key issues included:
- Extensive and rigorous document indexing requirements.
- Fluctuating loan package volumes, causing inconsistent workloads for their in-house team.
- High operational costs and dependency on staff for manual processing.
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The Solutions
After carefully assessing the challenges, we devised strategic solutions using MSuite in the following ways:
- Directly integrated the client’s Loan Origination System (LOS) and SFTP to automate document indexing.
- Handled all types of documents involved in the loan origination process.
- Streamlined the indexing process to be faster and reduce staff dependencies.
Results Achieved
The implementation of MSuite with strategic solutions delivered measurable progress:
- Document indexing time was reduced to a few minutes, with the review completed within hours.
- Average turnaround time (TAT) was significantly improved.
- Accuracy of indexing increased to 99%.
- Overall cost reduction, with MSuite charging based on the number of loans processed.
- Complete elimination of staffing dependencies.
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Upgrade Your Document Indexing Efficiency Today! Discover How Our Real Automation Solutions Can Drastically Cut Processing Times and Costs.
