Home Industries Mortgage Automation Process

Mortgage Automation Solutions for 90% of your Current Operational Processes

Did you know that over 90% of the process of ordering services (e.g. ordering appraisals, credit, flood, fraud reports, etc.) within a Loan Origination System can be automated?

Did you also know these automations can be built at no licensing costs per bot?

Insurance Document Processing and Automation_Inside the Bot Podcast_Jason Dzamba_Detroy Carter

Insurance Document Processing and Automation

In this article, Detroy Carter shares insurance document processing and automation solutions created by the OpenBots solutions team...

Insurance Risk Management and Digital Transformation_Jason Dzamba_Inside the Bot Podcast_Podcast Blogs

Insurance Risk Management and Digital Transformation

In a conversation with Shanique Harvey, a certified risk manager with extensive experience in risk management, we walk through lessons about insurance risk management...

Consumer Lending with AI and Automation A Deep Dive with Gabriel Skelton Blogs

Consumer Lending with AI and Automation: A Deep Dive with Gabriel Skelton

Gabriel Skelton, Director of Fintech Automation here at OpenBots, shares insights on streamlining consumer lending processes and achieving higher returns on investment (ROI)...

Which Mortgage Processes Can Be Automated?
Automation Potential Per Process:





Download the Ebook about which Mortgage Processes Can be Automated

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Lending Future State of Automation

You can automate several aspects of your Loan Origination and Servicing processes to help you improve accuracy and faster turnarounds.
OpenBots automates origination and servicing tasks across systems you use every day, such as Encompass® by ICE Mortgage Technology™, Black Knight’s Empower® and MSP® , Mortgage Cadence, Finastra, Optimal Blue®, LoanSphere®, LendingQB®, CoreLogic®, Fiserv®, Blend and SimpleNexus.
See below all the areas of your mortgage processes that can be automated and our pre-built solutions or digital bots for each process.

Discover The Right Digital Bot For You

See below all the areas of your mortgage processes that can be automated and our pre-built solutions or digital bots for each process.
Loan Origination

Loan Origination

Meet Larry, your Loan Origination Assistant Bot.

Tasks that can be automated during Loan Origination
  • Document Collection
  • Order Credit
  • Request Rate Locks
  • Team Assignment
  • Run AUS
  • Generate Initial Disclosures
  • KYC
Learn More


Meet Stephanie, your Processing Assistant Bot.

Tasks that can be automated during processing
  • Loan Setup
  • Order Services
  • Request/Process 4506-C
  • Income Verification
  • Disclosure Desk
  • AKA Verification
  • Document Extract/Validation
Learn More


Meet Jenny, your Underwriting Assistant Bot.

Tasks that can be automated during underwriting
  • Updating U/W Summary
  • Tax Transcripts Review
  • Credit Risk Modeling
  • Review Fraud/Flood
  • Review Appraisal
  • Review MI
  • Adding/Clearing Conditions
Learn More


Meet Steve, our Closing Bot.

Tasks that can be automated during closing
  • Document Prep
  • Deliver Closing Package
  • Credit Refresh
  • MERS Refresh
  • QC
  • Disclosure Desk
  • Sending Appraisals
Learn More
Post Closing

Post Closing

Meet Chris, our Post Closing Assistant Bot.

Tasks that can be automated during post-closing
  • MERS Registration
  • Compliance Checks
  • Collateral Tracking
  • Managing Escrow
  • Data Verification
  • Monthly Billing
  • Investor Conditions
  • Purchasing Suspense
Learn More


Meet Ali, our Servicing Assistant Bot

Tasks that can be automated during servicing
  • Payoff Quotes
  • PMI Admin/Cancellation
  • Tax Admin
  • Suspense Processing
  • Delinquency Management
  • Investor Status Reporting
  • MSP Onboarding
  • Escrow Management
Learn More

Appraisal Bot for Encompass - Mortgage Automation Solutions

A pilot automation can be built and deployed in as little as 3-4 weeks, immediately adding efficiency to an organization and proving out the value of process automation.

Begin your automation journey by automating the appraisal ordering process.

Our pre-built Appraisal Bots for Encompass provide automation solutions of Appraisal Desk tasks, such as appraisal ordering, appraisal review, fee exceptions, turn-time exceptions, and more.

Our bots take over these manual tasks with 100% Data Accuracy. These bots are launched as soon as Intent to Proceed is received and can be customized for specific AMCs (Appraisal Management Companies).

Find out how our Appraisal Bots for Encompass can get you to underwriting faster and speed up your loan process.

Watch a segment of one of our Live Virtual Events where our Director of Mortgage Automation, Gabriel Skelton, and Senior Automation Engineer, Ford Crosby, explain how our Appraisal Bot works with Encompass.

To watch the full virtual event CLICK HERE. 

Mortgage 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

Learn more about Appraisal Bot for Encompass.

Mortgage Automation 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 mortgage 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.

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