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Solutions > Business Process Management > Mortgage Approval Process Solution
Mortgage Approval Process Solution
Comwave using Staffware - developed Mortgage Process Framework to help
lenders realize the improvements they need to compete successfully in this
market. The Mortgage Process
Framework is a scalable BPM solution that automates the end-to-end
processing of mortgage applications and contains pre-built mortgage lending
process definitions to dramatically reduce implementation timescales. The Framework links and integrates core
business systems, such as underwriting and credit bureau information, and
manages the interaction between front and back office activities and
third-party servicing agents and intermediaries.
Core features of the Framework include web enablement and
multi-channel support, automated allocation of work, capability to process
applications “straight through” based on pre-defined business
rules and performance monitoring of mortgage processes.
Benefits :
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Increased profitability by reducing unit mortgage
processing costs
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Improved productivity through automated routing to
underwriting and “exception handling”
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Enhanced customer service by reducing processing cycle
times of new mortgage applications
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Ensuring SLAs are met by setting deadlines and
prioritizing work
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Flexibility to quickly change lending criteria and bring
new products to market faster and more cost effectively
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Better management of peaks in business through enhanced
workload balancing and optimum automation to clear backlogs
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Process scalability to handle increases in business
volumes without the need for additional headcount
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Reduced operational risk through tighter integration of
front-office and back-office
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Ensuring compliance to demanding industry regulations by
providing processes standardization and end-to-end process visibility and
control
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