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Home RPA For My Business Industries Mortgage Automation Process

Fast & Accurate Intelligent Document Automation For Mortgage Processes

Build unlimited automations for credit refresh, monthly billing, loan suspense and other Mortgage Processes with OpenBots, the First Enterprise RPA Platform with Zero Bot Licensing.

Document Automation Connects Underwriters With Accurate Data

Mortgage organizations can save up to 50% on operating expenses by automating claims tasks with RPA. Here are other benefits of using RPA on your mortgage lending and servicing.

  • Eliminate repetitive manual data entry and extraction
  • Automate borrower income documents
  • Reduce Errors
  • Meet compliance laws and audit trails
  • Automate cognitive process with AI & Machine Learning Better customer experience

Find out how our Mortgage botConnector can speed up your underwriting process for faster clear-to-close decisions.

RPA Case Study:
Mortgage Loan Suspense Automation

RPA Challenge:

  • Completion of 160 loans each day per team member
  • Daily Hours Spent = Takes up 4 hours of every workday per employee

Automation Savings

  • 320+ Monthly Man-Hours
  • $13,000+ in Monthly Payroll Savings

How Mortgage Companies Use Document Automation & RPA

There are several repetitive processes in the mortgage industry that can be automated with RPA tools. Here is an example of how a mortgage company used OpenBots to automate their loan processing process.

Due to the nationwide economic impact of the coronavirus, a large mortgaging investment firm has experienced an increased need for mortgage loan processing. The firm’s loan servicing department is responsible for verifying the status of loans to make sure they are FHA-insured.

Our RPA delivery team created a bot to seamlessly compare the firm’s set of loan information with the data stored in FHA Connection, a secure electronic system that facilitates loan processing, to seamlessly verify the insurance status of the loans and meet the mortgage firm’s urgent needs.

How To Automate
Mortgage Breach Letters With RPA

This is one of OpenBots mortgage case studies. One of our implementation partners’ client’s default management function was broken. This article explains how OpenBots was able to provide a $145,000 increase in their annual ROI and what steps were taken to achieve this.