Manage spikes in mortgage activities by automating the tedious income verification process and improve your customer satisfaction and retention.
Income verification is a tedious part of the mortgage origination process. In order to make informed lending decisions, teams must process applicant documents to calculate debt-to-income ratios.
These documents come in various forms, causing employees to manually input data to be analyzed across systems and Excel macros. This is a labor-intensive process that steers employees away from focusing on customer service.
Customers are able to prove their income requirements using various formats of digital documents. While this makes it easier for customers to submit their information, it makes it more difficult for banks to verify income and scrutinize loans for potential fraud. It can take weeks for customers to move through the loan process.
Classify unstructured documents for downstream analysis
Digitize documents for quick analysis by other applications, tools, and team members
Extract critical information for income verification
Calculate data for back-end banking systems
Our Intelligent Automation solution reduces the time and expense incurred between receiving the customer’s information and calculating the final DTI ratio. By reducing the amount of time and expenses spent checking, re-keying, and reviewing income documents, banks can better handle spikes in activity that can come from mortgage rate fluctuations.
Identity Verification:
Speed up applicants' identity verification through submitted documentation and data. Streamline Customer Identification Program (CIP) requirements for faster customer on-boarding.
Mortgage Income Verification:
Manage spikes in mortgage activities by automating the tedious income verification process and improve your customer satisfaction and retention.
Mortgage Insurance Updates:
Streamline changes in insurance policies, policy updates, and policy cancellations by automating documentation that must be accepted, routed, interpreted, and associated with the right.
Get in touch
All Rights Reserved © 2005 – 2023 Alindus Inc.