Workflow and task automation is your force multiplier when it comes to loan application processing and underwriting. With fewer resources required to complete various steps of the underwriting process, lenders can spend more time focusing on their most important asset — their applicants.
It’s true – lenders have been closing loans for decades without the use of workflow automation software. But in recent years, many have embraced this powerful technology, realizing its utility in streamlining the process of gathering and reviewing pertinent lending data.
In the process of manually completing verification checks, time and personnel are often squandered. Between gathering and evaluating financial documentation, corresponding with applicants, and advancing the loan further toward closing, your underwriters may be struggling to balance too many tasks.
Managing multiple tasks may eventually result in mistakes, and mistakes frequently result in lost business.
Using the DRIVE® Platform, you’ll gain the ability to create workflow and task automations to help ensure timely and consistent loan production. DataVerify will work closely with your team to make your automations align with the way you process loan applications.
Automate manual processes such as the ordering of a variety of verifications, while simultaneously checking for data integrity issues and information potentially undisclosed by the applicant. Avoid missed steps and reduce wasted time and resources if critical issues are discovered — and receive helpful alerts throughout the process.
Set rules for how you’d like to order more data in a calculated and automatic manner. For cases where an applicant’s verifications look good but closing time is distant, consider a workflow that automatically activates UDM to keep a watchful eye for changes.
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New processes often come with growing pains, particularly when support is deficient. DataVerify is committed to assisting your team through setup, training, and workflow optimization at any point in your lending journey.
Whether you prefer to start with a free trial or an in-depth consultation, our automation specialists are ready to get you started. Complete the form below to promptly connect with a knowledgeable representative.