modernize with rpa
The mortgage process can be time-consuming, tedious, and remains largely unchanged from decades past. Create a point of difference with Robotic Process Automation that brings your mortgage business into the 21st century.
for a better 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>
Read one mortgage lender’s success story working with Neostella.
With RPA, less manual work means fewer errors, so you can close loans faster, resulting in more time for new business.
A mortgage process simplified with RPA means less stress, on-time closings and happy customers. Hello, referrals!
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 into RPA on a larger scale, Neostella can help you transform your mortgage business for immediate wins.
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.
- Design an internal digital process inline with company growth objectives.
- Create UiPath bots that automate manual tasks; freeing up employee time for more complex, valuable work.
- Use Optical Character Recognition (OCR) software and data scraping PDFs.
Automating your closing disclosure processes with RPA will:
- 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 ordering of services is a tedious process in the mortgage industry. The volume of orders becomes increasingly time consuming with an uptick in business. This high volume results in missed or forgotten orders and compromised closing dates.
Create simple, effective robotic process 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
- Verification of employment
- Income Documents
Automating your service ordering process with RPA will:
- Improve employee experience by eliminating a tedious processes
- Expedite the service ordering process through RPA for a timely closing, resulting in greater customer satisfaction and ROI
- Increase accuracy in processing service orders by using UiPath bots to order for you, removing human error
- Even after UiPath implementation costs, you will see a positive ROI
Data extraction in the mortgage industry is instrumental to a successful closing process. Unfortunately, this process can cost your company time and can be detrimental if the data is extracted incorrectly. We want to:
- 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
- Collect and extract data from multiple sources
- Classify and store data in a normalized format without the need for manual typing
- Input data to loan origination systems such as Encompass, Point and Byte while maintaining data integrity
Data extraction automation through RPA for the mortgage industry will result in:
- A faster application processing speed, resulting in increased customer satisfaction and improved ROI
- A substantial decrease in manual labor time on tedious tasks
- Greater capacity to process applications
- Normalize the monthly peaks and valleys of volume that are common in the mortgage industry.
Completing investor stipulations in a timely manner to ensure an 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
- Resubmitting to the investor site
Implement a pre-built UiPath bot to work for you. This investor stipulation scraping robot (that is supported by 15 major investor sites) can:
- Log in to investor sites
- Look up loans by number for stipulations
- Input stipulations back into loan origination system
Robotic Process Automation in the mortgage industry speeds up the amount of time required for post-closing secondary market sales by 60-70% with:
- Significant reduction in employee time spent checking for stipulations
- Faster response to stipulation times
- Quicker completion of sale to investor
- Resources available for new business more quickly