mortgage

modernize with rpa

The mortgage process can be time-consuming, tedious, and remains largely unchanged from decades past. Create a point of difference with RPA that brings your mortgage business into the 21st century.

automation

for a better mortgage experience

Neostella is a leader in the mortgage space, having developed solutions for many mortgage companies from large to small. Whether you choose to start your RPA journey with a single process or are ready to jump in on a larger scale, Neostella is ready to design solutions that will make the mortgage process less stressful for everyone involved. LEARN MORE>

  • lenders

    With RPA, less manual work means less busy work and fewer errors.  So you can close loans faster, making more time for new business.

  • applicants

    A simplified mortgage process means less stress, on-time closings and happy customers. Hello, referrals!

use cases

rpa makes more time for new business

Neostella is one of the few UiPath Certified Partners with full Document Understanding certification and project experience.  With this expertise, we’ve built a library of solutions that we can draw from to customize solutions quickly and cost effectively for you. Whether you choose to start small or jump in to RPA on a larger scale, Neostella can help you transform your mortgage business for immediate wins.

  • closing disclosures
  • Service Ordering
  • Data Extraction
  • investor stipulations
  • the challenge​

    The process of obtaining, processing and closing mortgage loans can be time-consuming and tedious. And in some cases these processes haven’t changed in decades. Neostella can provide your business with solutions designed to make your mortgage services faster, more accurate and less stressful for everyone involved.

    • Make the closing and disclosure process less labor-intensive.
    • Reduce the manual effort required to copy and paste data.
    • Automate file sharing among offices.

    the solution ​

    • Design an internal digital process inline with company growth objectives.
    • The creation of UiPath bots that automate manual tasks; freeing up  human time for more complex, valuable work.
    • Use OCR and data scraping PDFs.

    the results

    • Improved worker experience through the elimination of redundant closing disclosure processes
    • Increase in application processing speed due to process automation, resulting in greater customer satisfaction and ROI
    • Boosted accuracy in processing lending applications, backorders, orders en route, and other logistics metrics that evaluate the production process
    • Positive ROI for cost of UiPath implementation
  • the challenge​

    • The ordering of services is a tedious process.
    • The volume became increasingly time consuming with an uptick in business.
    • The high volume resulted in missed or forgotten orders and compromised closing dates.

    the solution​

    Create simple, effective automations that can order services for you, keeping you on track for timely closings. We can develop automations for the ordering of a wide variety of services based on client needs. Some of the most commonly requested include:

    • Flood certification
    • Credit inquiry
    • Fraud
    • Appraisal
    • Verification of employment
    • Income Documents

    the results

    • Improve worker experience through the elimination of redundant closing processes
    • Increase in application processing speed due to process automation, resulting in greater customer satisfaction and ROI
    • Boost accuracy in processing lending applications and other metrics used to evaluate the process
    • Positive ROI for cost of UiPath implementation
  • the challenge​

    • Reduce the amount of manual data entry time needed to process the many documents included in a loan packet while ensuring accuracy
    • Maintain data integrity
    • Eliminate redundant interactions between loan processors, customers, and decision makers

    the solution​

    Neostella will work with you to implement RPA solutions that can extract data from all of the forms within a loan packet, creating an integrated UiPath product set that can:

    • Collect and extract data from multiple sources
    • Classify, and store data in a normalized format without the need for typing
    • Input data to loan origination systems such as Encompass, Point and Byte while maintaining data integrity

    the result ​

    • Increase in application processing speed due to process automation, resulting in greater customer satisfaction and ROI
    • A substantial decrease in manual labor time
    • Increased capacity to process applications
    • Normalize the monthly peaks and valleys of volume that are common in the mortgage industry.

  • the challenge

    Completing investor stipulations in a timely manner to ensure available line of credit for new business. For many lenders, this is an inefficient human process of logging into multiple investor sites, manually searching for stipulations by loan number, downloading back into the loan origination system for correction and finally resubmitting to the investor site.

    the solution

    Put a pre-built bot to work for you. An investor stipulation scraping robot that is supported by 15 major investor sites that can:

    • log in to investor sites
    • look up loans by number for stipulations
    • input stipulations back into loan origination system

    the result

    Automation speeds up the amount of time required for post-closing secondary market sales by 60-70% with:

    • Significant reduction in human time spent checking for stipulations
    • Faster response to stipulation times
    • Quicker completion of sale to investor
    • Resources available for new business more quickly