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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?

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

85%
Origination

83%
Disclosures

93%
Orders

85%
Processing

Download the Ebook about which Mortgage Processes Can be Automated

Download Now

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

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

Processing

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

Underwriting

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

Closing

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

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

Servicing

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.

Process Documents

Automate Processes & Tasks

Create Forms & Sites- Manage Human Tasks & Actions

Mortgage Automation Solutions for 90% of your Current Operational Processes