Consumer mortgage lending has a reputation for being paper-intensive. An average of 500 documents are generated per application—and that doesn’t even count loan servicing documents. Modern borrowers (and brokers) don’t want to deal with mounds of paper, and considering the risks of lost documentation, costly data entry errors and compliance violations, neither should you.
Revolutionize your antiquated, paper-laden traditional mortgage process with a solution that actively engages borrowers and lenders in a collaborative, accurate and transparent environment that includes both customer self service and assisted service options. Not only will you originate, close and service loans faster and with greater efficiency, but you’ll elevate your customers’ experience to a new level of long-term value.
We have cut the time taken to process a loan application and return a decision to lenders from three to seven days to 43 minutes or less. This is a tremendous achievement, and it would not have been possible without the insights revealed by Kofax solutions.
When you automate, simplify and speed up applications, closing and loan servicing, you deliver an exceptional mortgage lending experience that cultivates customer loyalty and differentiates your service from the competition.