Mortgage Lender Streamlines Document Indexing with MSuite Automation Solution

The Brief

• Client Profile: A leading non-bank mortgage lender, the client provides a comprehensive suite of loan options, including conventional and government-backed programs such as VA, USDA, and FHA loans. Headquartered in Fort Mill, South Carolina, the company maintains a strong presence with 515 offices strategically located throughout 49 states.
• Company Size: Large-scale mortgage lender with over 500 offices nationwide
• Industry Domain: Mortgage Lending, Document Management, Loan Servicing
• Challenge Faced: The client struggled with a time-consuming and error-prone process for preparing loan packages. Manually indexing documents, searching through multiple loan origination system folders, and organizing files to meet investor standards were major challenges. Moreover, the workload fluctuated throughout the month.
• Project Objective: The client sought a solution to streamline their workflow, reduce processing time, eliminate errors, and achieve greater scalability in their operations.

The Solution

At Backoffice Pro’s (BOP's) recommendation, the client implemented MSuite to streamline their loan packaging process. This automation solution significantly reduced errors, enhanced operational efficiency, and lowered costs.

• Direct connection to the client's SFTP for efficient file retrieval
• Automated document indexing and verification against lender requirements
• Generation of reports highlighting missing mandatory documents
• Creation of fully indexed packages for easy boarding into servicing systems

The Outcome

The implementation of BOP’s MSuite automation solution yielded significant improvements:

• 20% reduction in time to sell/board loans
• 99% accuracy in the bookmarking process
• Up to 45% cost savings
• Premium pricing from investors for complete packages
• Enhanced scalability to manage fluctuating work volumes

Enhance your mortgage operations with Backoffice Pro’s MSuite automation solution and achieve unmatched efficiency in document management.