Mortgage Document Automation
Drastically reduce manual labor costs and eliminate errors
New regulatory requirements and enhanced oversight, combined with mortgage industry consolidation and restructuring, have pushed banks to look for solutions that can improve a wide range of business processes related to documents in the mortgage lending process. Previous use of labour-intensive and costly processing methods for document handling is no longer possible for banks that want to compete in a market with an average mortgage loan of more than 500 pages and hundreds of document types.
Zia Consulting provides mortgage document automation systems for companies across the industry, helping them leverage AI-powered solutions for better operational efficiency.
We deliver significant cost savings, offer accelerated revenue opportunities, and improve visibility into the process for enhanced compliance and business intelligence with our mortgage document processing automation solution.
EPHESOFT MORTGAGE AUTOMATION DEMO
Join Pat Myers for this demo of Ephesoft Mortgage powered by Zia.
Customer Results
Document Processing Challenges in the Mortgage Process
1
Fragmented Document Formats and Workflows
Mortgage lending involves an overwhelming number of documents. These range from the Uniform Residential Loan Application to disclosures, verifications, and closing forms, in varying formats and channels. You might find that this makes managing a cohesive document processing workflow difficult, especially without real-time tracking and scalability.
2
Manual Document Processing Time
Traditional mortgage operations still rely on people to manually sort, label, and extract data from complex document sets. The time it takes to do this with documents with hundreds of pages slows down the process of mortgage approvals. That, in turn, makes it harder for you to scale. Since manual workers aren’t infallible, human error rates are also higher, and fixing them takes time.
3
Disconnected Mortgage Workflows
As a mortgage lender, if you use processing tools that don’t communicate effectively with each other, you don’t have a unified view across the loan application, mortgage underwriting, and funding stages. That can make it difficult for you to maintain transparency and track progress.
4
Compliance Risks
Missing or misclassified documents in a mortgage application mean you cannot demonstrate complete traceability, which can negatively impact the customer experience. It is essential to capture and store all components of the loan origination process so they are audit-ready. Efficient mortgage document processing also means ensuring everything is properly documented for regulatory compliance.
5
Pressure to Deliver Faster, Smarter Service
Borrowers expect speed and simplicity, but legacy systems and manual processes slow teams down. Data extraction and processing by humans is slow and tedious. Automation speeds up every stage of the mortgage processing lifecycle, from application intake to loan approval.
Benefits of Automating Mortgage Document Processing
1
Reduced Labor Costs and Operational Overhead
Automate time-consuming tasks like document classification, sorting, and routing with advanced automation tools and intelligent document processing. Free up your people to focus on higher-value work such as customer service and risk management.
2
Faster Loan Application Processing
Digitize and streamline mortgage workflows to process the loan application and supporting documentation more efficiently. Accelerate your journey from intake to loan approval by reducing turnaround times and boosting throughput.
3
Improved Accuracy with Automated Data Capture
Reduce errors and rework with automated data extraction from scanned documents, PDFs, and even handwritten forms. Ensures more accurate information flows into your loan origination systems.
4
Enhanced Compliance and Audit Readiness
Track every step of the mortgage document processing workflow with built-in controls, audit trails, and document validation. Stay aligned with evolving regulatory requirements with Intelligent automation technology.
5
Seamless Integration with Existing Systems
Zia’s solutions work with your current tech stack seamlessly — including loan origination systems and content management platforms — enabling end-to-end mortgage process automation without the need for a complete system overhaul.
6
Better Borrower Experience
Accelerating the mortgage processing timeline leads to quicker approvals, fewer document-related delays, and a smoother overall customer journey — a competitive advantage in today’s market.
Our Loan Process Automation Solution Tackles:
Intake of Borrower Documents
The system creates a loan folder with documents that have been automatically classified, extracted, stacked, and verified. This includes structured, unstructured, and semi-structured content from a variety of sources such as portal upload, email, fax, and scan.
Preparation of Closing Documents
Our solution assembles the right documents for closing packages and ensures a thorough document review, making sure nothing is missing. An automated alert is sent to the appropriate party should a required document be misplaced.
Regression Testing
The system can perform regression testing of the classification, assembly, and indexing of data to verify any changes made in the configuration.
Flexible Framework
This solution integrates to line-of-business systems like LOS and servicing systems. It also has the ability to be customized if you desire.
LEARN MORE ABOUT EPHESOFT MORTGAGE
View this introductory video to see how Ephesoft Mortgage can work for you.
Ephesoft Mortgage Powered by Zia
Ephesoft Mortgage powered by Zia removes the pre-production work required by other systems, as it’s enabled to automatically recognize hundreds of mortgage document types. Ephesoft Mortgage provides a “pre-trained” version of Ephesoft that has been tested against millions of documents. It is also configured to extract data from documents like the Closing Disclosure and Loan Estimate, among others.
This solution allows you to classify, extract, and export information to the system of your choice.
Automated Mortgage Document Capture with Ellie Mae Encompass
Many of our customers have asked us how they can utilize an intelligent mortgage document capture with Ellie Mae Encompass. We put together a quick video to explain how it can work.