ViewWise
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The Challenge
As commoditization of traditional mortgage brokerage services grows, coupled with the advent of web based mortgage brokerage services, you must differentiate yourself from your competition, both big and small, as well
as adapt to the ever changing marketplace. You must deliver higher value to your clients, many of whom are repeat customers. With this evolution comes the need to improve operating efficiencies to reduce costs, overhead and risks
wherever possible. These objectives can be achieved with a modest investment in document management technology, which can accelerate the loan origination and approval process, and reduce your operating costs and the risks associated with hard copy files. Close more loans in an accelerated fashion with minimal overhead.
The Solution: Computhink's ViewWise Integrated Document Management Solution
Benefits for the Mortgage Brokers/Title Agencies:
- Hard Cost Savings
- Copier Costs - reduce your investment in printing / copying equipment and the labor to operate them. Minimize your paper production costs, i.e. email or fax electronic copies instead.
- Physical Storage - convert file rooms to productive revenue generating space and reduce off-site storage costs as well. Rent that space to your Appraiser or CPA.
- Shipping - e-mail or fax your electronic document(s) for immediate transmission. Eliminate those expensive courier delivery charges. Save days in your process cycles.
- Regulatory Agencies - in the event of an audit, have the files at your fingertips. Avoid fines and penalties resulting from misplaced documents. OBRE (State of Illinois Office of Banking and Real Estate) accepts electronic images in lieu of hard copy originals for audit purposes. Check with your other agencies for their acceptance of electronic files.
- Document Recreation - reduce cost of recreating lost or misplaced files. Eliminate liability of being unable to locate a critical document when it's needed.
- Soft Cost Savings
- Increased processing throughput - thinner margin loan applications drive the need for higher volumes of loan origination with the same or reduced staffing levels. Store all source documents (paper or electronic faxes, emails, etc) in the ViewWise electronic filing cabinet on your office server. Build a work-in-process loan origination system and manage your work flows more efficiently.
- Customer satisfaction - immediate response to client calls during the application process means improved customer satisfaction and quicker closings. Build that work in process loan file electronically and expedite the entire closing process. Refinancing is a breeze with nearly instantaneous retrieval of documents on file from a previous loan.
- Information sharing - facilitate the exchange of loan information between offices, homebuyers, wholesale lenders, title and trust companies, etc. Improved communication flows mean quicker closes.
- Security and Disaster Recovery - secure distribution of electronic information with 128-bit encryption. Protect your knowledge base with backup/restore functionality. Archive files as needed in anticipation of record retention requirements and audits.