The Brief

Client Profile: Established in 2002 and headquartered in Cherry Hill, New Jersey, the client is a full-service direct residential mortgage lender. They are Fannie Mae approved, licensed in multiple states, and an endorsed HUD lender offering USDA, VA, FHA, Jumbo, and other traditional Freddie Mac/Fannie Mae eligible products.
Challenge Faced:
- The manual document indexing process was extensive and rigorous, leading to delays in the review process.
- Fluctuations in the volume of incoming loan packages resulted in inconsistent staff workloads, causing inefficiencies
Project Objective: To enhance the accuracy and efficiency of the document indexing process, improve turnaround times, and optimize staffing to reduce operating costs.

The Solution

We implemented its proprietary mortgage automation tool, MSuite, to address the client's challenges:

Automation Integration: MSuite connected directly to the client's SFTP and Loan Origination System (LOS) to collect all documents related to the loan origination process.
Efficient Document Indexing: The tool automated the document indexing process, significantly reducing processing time and minimizing staff dependencies.

The implementation of MSuite led to substantial improvements:

Enhanced Accuracy: Document indexing accuracy increased to 99%.
Reduced Processing Time: Indexing time was reduced to a few minutes, allowing the review process to be completed within hours.
Cost Savings: Overall operating costs were lowered due to reduced staffing dependencies and increased process efficiency.