mortgage loan solutions
Originate, close and process loans faster
Improve compliance and accuracy
Improve customer satisfaction
Easily scale to volume fluctuations
simplifying mortgage paperwork
Simplifying the workflow for mortgage documentation can reduce cost, improve accuracy and speed the process. You'll lower the processing cost of each mortgage, process a higher volume of mortgages with less labor and increase customer satisfaction and regulatory compliance.
Did you know?
70% of loan processing costs are consumed by manual labor
Average Net Cost to originate a new loan is $6,253.00
Average time to close a loan is 46 days
you can improve every one of these metrics
Mortgage document processing made easy
Processing mortgages quickly and accurately takes organization, skilled employees and unfortunately a lot of paperwork. And during heavy application periods, many institutions need to hire temporary staff and lengthen approval timelines, which are costly to you and frustrating for customers.
There are two simple options to streamlining mortgage processing.
Automate your in-house process. With high speed scanners and automated capture software designed for loan processing, you can dramatically speed scanning, document classification and data capture.
Outsource mortgage document scanning. This is a cost effective way to ensure accuracy, speed the process, lower the cost per loan processed, and organize documents.
Or, you can use a combination of these services to clear out a backlog, add trained external resources for heavy processing times, whatever makes sense for your business.
outsourced mortgage document scanning services
Outsourcing immediately increases your capacity without the internal costs of hiring, training, hardware, software and IT support. Reynolds' Conversion Services is fully staffed and equipped to handle large volumes of work quickly and efficiently.
You will see immediate results in reduced cost per loan processed, increased accuracy and visibility into mortgages, and shorter processing times. You will have greater access to information to track mortgage processing, respond to customer and third party inquiries, see what documents are or are not received and processed and with the click of a button access dozens of key metrics. Further, your staff will be freed up to handle higher value tasks.
typical outsourced process
Reynolds employees pick up your files on whatever schedule you require.
Reynolds prepares your mortgage loans for scanning.
Reynolds Mortgage Loan Scanning Services scans your loan files on state-of-the-art, production level document scanners, helping to ensure crisp, clear images. Reynolds scanning services utilize both hardware and software image cleanup, further insuring image quality.
Reynolds utilizes automated and technician based processes to identify document types and capture loan data.
Optical Character Recognition (OCR)
Reynolds employs the latest software technology to automate data capture.
quality Control (QC)
100% quality control is applied to assure that every image is scanned and equally as legible as the original.
Reynolds will work with your in-house team to train them on quality scanning (image capture, indexing and QC'ing) and set up the software to your specs including all integration code so there is a seemless interface with your current systems.
Providing a wide range of document scanning hardware from desktop to ultra-high production scanners, Reynolds experts will determine the optimal mix of devices to fit your worflow, reduce labor costs and improve document quality.
Software such as Kofax Mortgage Agility is a smart process application that radically transforms and simplifies the mortgage application process.
The solution revolutionizes the antiquated, paper-laden, traditional mortgage process by actively engaging borrowers and lenders, enabling them to become collaborative stakeholders in a more effective, accurate and transparent process.