Lending has some of the most document intensive services processing in all of retail banking. A typical loan file may contain between 25 and 50 different documents in multiple data formats and could exceed 200 pages of paper. The content created in the account opening process flows through underwriting processing. After a loan closing, lenders must photocopy and mail, or electronically expose, completed loan documents to loan servicers, document custodians and mortgage investors that purchase loans. Lenders must also archive loan file documents for regulatory compliance purposes.[1]

Streamlining Loan Operation

With minor variations, mortgage lenders follow a five-step process: originate (apply), underwrite, close, post-close, and service. Each step involves tasks and individuals in a variety of sub processes that must be completed. All too often, organizations treat these processes as separate and distinct from each other. By uniting these processes on a common platform, you can dramatically streamline processes. Industry compliance requirements also have an impact on processing efficiency, as regulatory standards change to reflect market conditions and these standards impose increased documentation and audit burdens.

To apply straight-through processing efficiency to mortgage loan operations requires a common platform that can support any application to:

• Automating, streamlining, and integrating processes
• Eliminating paper and redundancies
• Shortening cycle times and reducing errors
• Enabling collaboration
• Supporting line-of-business (LOB) applications
• Ensuring compliance
• Improving the customer experience

A Complete Solution

Shorten time to value. EMC Documentum content-enabled solutions include a full range of EMC products, services and support, as well as EMC-certified partner technologies and services -- complemented with deep industry and process expertise – so you can achieve maximum value in the least amount of time.

[1] C. Focardi, K.Pauli and B. Robinson, "Enterprise Content Management: A New Approach to Organizational Efficiency," The Tower Group, 2003