Document Management & Tracking (DMT) Solutions

Case Studies

Mortgage

As part of Visionet Systems, Enterprise Mortgage Delivery solutions offering, the DMT solutions provide a strategic roadmap with prioritized, time-based and measurable initiatives to help our Mortgage Banking clients achieve their objectives of

Cost reduction: Head Count, IT Spending, Re-work
Process efficiencies: Reduce turnaround times in Origination, Servicing and Secondary Marketing operations, Accessibility of information and documents
Reduction and elimination of bottlenecks due to paper processes
Maintaining high standards of quality in Mortgage Operations
Scalability and manageability of Operations with market and organizational needs
Blueprints for organization consolidation and conversions

Visionet with its vendor agnostic and process centric view of the mortgage industry provides holistic solutions for a client’s organization. As part of our DMT solutions, we look at the mortgage client’s challenges that pertain to paper intensive processes from both tactical and strategic perspectives. Due to our proven and extensive solution implementation experience within the Mortgage Banking vertical we have the understanding of the Mortgage industry vision as a whole and at the same time we have the organizational maturity and capability to deliver optimized solutions to help the clients within the industry achieve their respective business goals and objectives. Furthermore, as part of Visionet MTRL’s (Mortgage Technology Research Lab) ongoing effort of researching and defining industry best practices, has helped us in implementing optimized Mortgage Origination, Servicing and Secondary Marketing delivery solutions.

The mortgage process being extremely paper intensive and as a result being one of the main reasons for the bottlenecks in the process which causes delays in originating, servicing and securitizing loan and loan portfolios. Apart from the delays in the aforementioned process areas, the paper intensive nature also causes higher costs of originating and servicing loans as the physical movement of file is required, as well as head count and systems are needed for data-entry, handling and tracking of the paper. Further, the paper as well as the continuous human intervention in enabling the physical movement of paper also results in quality issues and delays at the various steps from Originating a loan to its final closing, post closing and then the simultaneous selling and servicing.

Being a strategic solution provider from the process and technology perspective, Visionet has defined and implemented Document Management and Tracking solutions for mortgage clients as part of its Enterprise Mortgage Delivery offering. Following are specific DMT solutions that both

Strategically and tactically provide tangible ways of addressing the paper processes within the mortgage phases and help our client organizations in reducing paper processes, eliminating paper, digitizing & imaging processes, as well as the roadmap to align people, process and technology for adoption of e-Signatures in the mortgage lending and servicing as the industry matures and standards are defined and adopted industry-wide.

Record Management System – Identification and Classification
Organizational acquisitions and consolidations best practices and process blueprints
Document Tracking mechanism utilizing Visionet’s SMART numbering system

Record Management System

The Record Management System solutions provide the optimal process and technologies for a mortgage lending and servicing client to enable identification and classification of paper generating processes and systems. This particular initiative requires a VOR (Visionet Optimization Review) be conducted to assess the clients’ business process and available technologies. The building block for document management and tracking approach is used and the findings are benchmarked against Visionet MTRL’s blueprint for DMT as a baseline, to evaluate the issues with the document management and tracking processes and technologies. As a VOR deliverable, the mortgage processes are mapped against the information/document requirement of the stakeholders in the Origination or Servicing transaction of our Client, and an inventory of the document tracking and management system is conducted. Based on our knowledge about the mortgage industry from the business, legal and technology as well as best practices in implementing mortgage solutions, we develop an evolutionary roadmap from a paper intensive process to electronic delivery and storage. The roadmap document is used to identify and prioritize the processes with the greatest amount of paper related bottlenecks and criticality to the overall success of our clients’ business. The execution of the solution involves optimization of existing technologies, integration of apps, process reengineering and a baseline for future implementations and enhancements to document management and tracking initiatives.

Document Management and Tracking Integration Services

Realizing the growth strategies of the mid to large sized Mortgage players in the industry, which has acquisitions at the core, Visionet Systems has the thought leadership and implementation experience to rapidly identify the critical technologies and business processes involving document management, and optimize and integrate the disparate technologies of the acquiring and target organizations. Based on a Client’s market positioning, goals and objectives and their current document management and tracking environment, Visionet can provide a blueprint for integrating systems as well as through our knowledge of developing custom applications for Mortgage Banks as well as off the shelf implementation of software packages, we can reduce time to market as well as the lost synergies of managing disparate operations in the case of acquisitions.