Streamlining Loan Boarding System Challenges With Automated Msuite Solution

The Challenges

The client recently switched to a new loan boarding system, which triggered several unexpected challenges, including:

• Frequent service level disputes due to system updates.
• Declining accuracy levels as document types exceeded 300+.
• Increased turn times are caused by the rising complexity of document processing.

The Solutions

After conducting a thorough analysis of the client’s loan boarding system, we identified inefficiencies in document management as the root cause of the challenges. To resolve this, we integrated our automated data validation tool, MSuite, which addressed even the most complex issues. The solution included:

• Efficient categorization of documents such as income and closing docs.
• Simultaneous loan boarding and data validation.
• Elimination of extensive secondary reviews through automation.

This integration resulted in a reduction in document types from over 300 to 108, significantly improving the process. MSuite also increased the loan processing batch limit, drastically reducing turnaround time.

Results Achieved

Our solution delivered significant improvements in the client's loan boarding process:

• Complete elimination of service level disputes.
• Streamlined document categorization for better management.
• Enhanced quality of loan onboarding.
• Increased productivity allows for processing 220-250 loans per day.
• A 50% reduction in loan processing times.
• Improved customer satisfaction due to faster and more reliable processing.