Are you considering smart ways to increase the efficiency and speed of mortgage processing with RPA? Your solution is here. Technology is coming to the forefront in mortgage industry as lenders are trying to increase efficiency, reduce errors and increase compliance. Mortgage dispensation takes a long time as it is riddled with a large number of players and processes through which the mortgage application goes through. During this, there are hundreds of routine tasks that are performed by humans.
Flatworld has been developing solutions for robotic process automation for mortgage processing to optimize the lending process through technology. We are helping many mortgage lenders achieve excellence and beat competition by creating well-defined robotic processes that take care of a wide range of routine tasks at a super-human speed.
There are many routine tasks in loan processing that can do well with automated solutions for mortgage processes. All the tasks that are workflow-driven, rule-based, definable and repeatable can be automated in order to reduce turnaround time, costs, and dependence on humans. Flatworld's RPA automation support solutions include -
We first study our client's workflows and then create a well-defined, rule-based robotic process that can take care of a whole gamut of tasks including - automatic verification of information on loan applications, validation of income, assets, identity, W-2 forms, etc. Our robotic process automation solutions will ensure that all the fields in the application are complete with accurate data before sending it for loan underwriting. Our solution includes loan workflow management, document management, quality assurance, and data accuracy validation. We also offer RPA solutions for property appraisal process.
Flatworld has developed RPA for mortgage processing which includes activities like identifying and updating indexes, data retrieval, updating loan attributes as needed, data matching between multiple systems, data compilation for customer service and collections, MERS compliance, and a lot more. We can support the entire loan servicing process with our customized robotic process automation for mortgage services.
Flatworld builds specialized solutions that use the power of automation to identify and update key loan attributes whenever any changes are required. We make RPA a seamless part of your mortgage lending process so that many tasks critical for loan underwriting like collecting customer documents, income assessment, tax return checks, credit reports, MERS verification, etc., take dramatically less time. The tasks executed through RPA for mortgage processing are not only faster but also highly accurate.
In the mortgage lending world, it is extremely critical to appraise the property correctly and quickly. We have developed advanced RPA solutions that accurately collects and analyses all the relevant information including title, ownership history, property size, location, market value, price of similar properties, etc., to arrive at a preliminary valuation of the property. This information is made accessible to the appraiser in real-time. Robotic processing automation makes it easier to quickly verify appraisal reports as well.
Loan fraud has been a challenge for mortgage lending businesses and it is up to them to put in checks and processes in place to detect and avoid such frauds. With the use of machine learning technologies and RPA, Flatworld can build a customized solution that analyzes the risk propensity of the loans being processed. This reduces the chances of fraud and gives an accurate picture to the loan processor.
Loan closing is a long and complex process that requires collaboration among the originator, loan processor, and the underwriter. With robotic process automation, there are many tasks that can be executed quickly and efficiently, drastically reducing the closure time and workload. Our solutions are highly customized and cater to the specific requirements of the mortgage lending company.
The RPA for mortgage processing is passionately implemented keeping in mind your specific business concerns. We make our efforts transparent so that you can closely understand our workflow. The steps involved in RPA for mortgage processing is as follows -
During this phase, our certified experts will analyze your existing workflows and identify areas that can be streamlined using RPA
During this phase, we will build the solution architecture, analyze anomalies, and finalize the plan
Our mortgage processing subject matter experts will collaborate with software developers, data science experts and machine learning experts to develop a bespoke solution for your needs
We carry out extensive quality assurance and compliance checks to ensure that your RPA solution is 100% robust
We implement the RPA solution within your organization and perform necessary integrations so that the solution operates smoothly
Our support team continuously works after the implementation phase to provide new capabilities and features
MSuite is a powerful solution that takes automation to new levels with targeted solutions within the mortgage ecosystem. This is Flatworld’s flagship service that is driving lenders and services closer to efficiency levels that are never seen before. We take the best of AI and ML to meld its features to create a bespoke automation solution that will solve tomorrow’s challenge today.
Here are the process involved in the MSuite adoption within the LOS layer of your mortgage operation. Find out how we make your business smarter with the power of BI, ML, AI, and OCR technologies.
Opting Flatworld Solutions as a partner in RPA for mortgage processing is a rewarding choice. This is because our team is not only skilled in delivering reliable automation solution, but we also invest in providing quality support during and after the service. Here are more reasons to consider our RPA services -
Flatworld is an ISO 9001:2015 certified and a state-licensed outsourcing mortgage appraisal services company which is certified to offer the complete range of mortgage loan processing services. When you outsource to us, you are in safe hands.
With our RPA solutions, companies can reduce errors, mitigate fraud, ensure regulatory compliance and generate high-quality of verified data. Our practices towards data protection and mitigation of risk associated with digital security has brought us ISO/IEC 27001:2013 certification.
Since loan processing is a complex task, it is prone to errors that creep-up due to human intervention. With our customized RPA solutions, you would be ale to optimize quality and accuracy of your loan documentation.
With our RPA solutions, you can cut down the loan origination to closing time by 40-50%. The streamlined process would also arm your resources with the right information quickly and increase their productivity.
The timely and accurate processing of loans will enhance the experience of your customers and help improve your service levels. If you have scalable requirements we are the people you can count upon because we offer your complete flexibility in the way RPA for mortgage processing services are customized.
Our clients can save anywhere between 30-40% of their mortgage loan processing costs by utilizing our solutions for robotic process automation for mortgage processing.
You will be assisted in a personalized manner by our project manager who will be assigned exclusively to assist you until the project completion. This way, you can skip the queue and get instant response from people who are closely involved in the project.
Flatworld has been at the forefront of developing machine learning based automation solutions for the mortgage industry for over a decade. We understand the mortgage lending workflows and develop highly customized solutions for you quickly.
Mortgage industry has to follow stringent compliance norms and government regulations. We have deep knowledge of local, state, and federal regulations and you can rely on us for developing 100% compliant RPA solutions.
Customer data needs to remain safe and secure during the entire process and we follow strict guidelines to make sure that there is no breach. We have a secure FTP and VPN network through which we communicate and share data with our clients.
Our clients enjoy round-the-clock access to SMEs and the project team. Flatworld serves clients across the globe and we make sure that the team works in your time-zone so that you can reach them anytime.
Error-prone tasks such as credit reports and undisclosed notifications were audited by FWS using RPA. Our solution halved the manual FTP and increased the rate of application processing.
The loan volume was increased and closing time was shrunk by 30 to 50% for a residential mortgage company by Flatworld Solutions' expertise.
Flatworld Solutions delivered what they promised; delays in loan processing & lengthy closing time are now a thing of past. Our loan officers and borrowers are happy.President of a leading mortgage lending company in US More Testimonials »
Flatworld Solutions an ISO certified company with 18 years of expertise in offering mortgage loan processing services. Our mortgage solutions come with well-defined processes, transparent communication, qualified resources, quick turnaround, and higher quality. We can take care of every aspect of robotic process automation for mortgage support services and deliver superior results to our clients within a shorter turnaround time. We also provide other services such as underwriting support, mortgage closing support, post-closing support, title support and more.
Contact us today to automate your mortgage lending process at a competitive price.