FWS Provided Automated Indexing Using its Tool, MSuite, to a Home Loan Provider

The Client

The client was founded in 2002, is headquartered in Cherry Hill, New Jersey, and is a provider of home loan products and services. The firm is a full-service direct residential mortgage lender, is Fannie Mae approved, is licensed in multiple states, and is an endorsed HUD lender offering USDA, VA, FHA, Jumbo, and other traditional Freddie Mac/Fannie Mae eligible products.

The client does business with multiple brokers as well as correspondent lenders that send them loan packages, including correspondent, wholesale, and closing packages, for several different purposes. A team of dedicated resources manually splits the various packages and then further subjects them to a thorough review.

Client's Requirements

The client was looking out for a solution to make the document indexing process more accurate and seamless and improve the TAT of the review process. The client also wanted to cut operating costs by optimally managing the staff dependency.

Client's Challenges

A major challenge the client is facing is that the document indexing process is tedious as it is extensive and rigorous. There are also consistent delays affecting the review process. Constant fluctuations in the volume of loan packages coming in also mean that at times the staff is overly idle and that at other times, they are overworked.

FWS' Solution

We helped the client by providing access to our proprietary mortgage automation tool, MSuite, which can connect directly to the client's SFTP and LOS and collect all kinds of documents related to the loan origination process to perform document indexing. With MSuite, the indexing process has been made substantially quicker and staff dependencies have also been reduced significantly.

The Result

Automation through MSuite has reduced the indexing time to a few minutes, thereby ensuring that the review process can be completed within a few hours. The overall indexing accuracy has been enhanced to 99% and the overall cost has also been reduced. Furthermore, the staffing dependencies have also been fully removed.

Outsource Mortgage Automation Services to Flatworld Solutions

Flatworld Solutions is a leading provider of mortgage support services, including extensive mortgage automation services using its proprietary tool, Mortgage Automation Software, to firms of all sizes. We are ISO 9001:2015 accredited, which ensures that you will always receive the highest quality services from us. We have an extensive team comprising highly qualified, experienced, and proficient mortgage specialists that have a thorough understanding of all the processes involved in the mortgage industry. We also provide our services within quick turnaround times and at affordable prices.

Contact us now to discuss your mortgage automation or mortgage support requirements and we will be glad to help.