{"id":23325,"date":"2022-05-30T16:28:25","date_gmt":"2022-05-30T16:28:25","guid":{"rendered":"https:\/\/mozaiq.ai\/?p=23325"},"modified":"2023-10-13T05:21:58","modified_gmt":"2023-10-13T05:21:58","slug":"automating-mortgage-origination-processes-part-i","status":"publish","type":"post","link":"https:\/\/mozaiq.ai\/automating-mortgage-origination-processes-part-i\/","title":{"rendered":"Automating Mortgage Origination Processes \u2013 Part I"},"content":{"rendered":"
[vc_empty_space]
Should I Automate<\/h5>\n

Automation is no longer an \u201cif\u201d but a \u201cwhen\u201d in the Mortgage industry, as mortgage lenders rush to automate their processes in search of greater efficiencies as rising interest rates and the drop in loan volume compress their already thin margins.\u00a0 The challenge is that they lack the know-how to effectively develop an automation solution.\u00a0 This post illustrates how mortgage lenders can easily automate their mortgage processes without having to invest in expensive software licenses and without requiring in-depth technology and automation skills in-house.<\/p>\n

MOZAIQ is a leading fintech company that delivers Intelligent Mortgage Automation solutions and pairs decades of Mortgage domain knowledge with expertise in the premier automation products in market, such as Automation Anywhere, UiPath, Google AI, and Microsoft AI.\u00a0 We offer a suite of pre-built automation solutions together with an opinionated deployment roadmap based on years of experience in deploying technology solutions in the Mortgage industry.\u00a0 Our solutions are rapidly configured and deployed enabling clients to achieve a faster ROI with savings of up to 60%, allowing them to deploy skilled resources to high value tasks, achieve greater loan throughput i.e., a higher number of loans can be processed in the same amount of time, with higher accuracy.\u00a0 MOZAIQ\u2019s solutions are offered on per loan basis, meaning that customers don\u2019t have to spend inordinate amounts of money just to setup the solution, they only pay for what they use.<\/p>\n

Here are two examples of MOZAIQ\u2019s pre-built Mortgage automation solutions. The time to go live with these solutions is less than 4 weeks, and customers don\u2019t pay until loans are processed.<\/p>\n

Review Loan Estimate (LE) & Send Disclosures <\/strong><\/h2>\n

The Digital Worker verifies the loan fees, broker pricing and runs a report prior to generating the Loan Estimate (LE). The digital worker then sends the LE to the broker for approval, monitors email responses from the broker, and once the approval is received, it updates the Loan Origination System (LOS). It then sends the initial disclosures to the borrower, adds the default underwriting conditions, updates the milestone and notifies the Mortgage operations team to execute the next steps in the loan process.<\/p>\n<\/div>[vc_single_image image=”25434″ img_size=”full”]

Loan Delivery<\/strong><\/h2>\n

The Loan Delivery digital worker (BOT) is trained to interact with multiple third-party websites. It generates LCA (Loan Collateral Advisor) & UCD (Uniform Closing Dataset) reports, verifies UCD status, and generates relevant post-closing forms.\u00a0 It exports the ULDD (Uniform Loan Delivery Dataset) xml files to Fannie, Freddie and other investors loan delivery websites, resolves critical errors and uploads the shipping package. It then creates settlement forms and updates the loan delivery status in the LOS.<\/p>\n<\/div>[vc_single_image image=”25485″ img_size=”full”]

\n
    \n
  1. The loan is committed to an investor. Once the ops user has validated the documents, signature and fields, she kicks off the process in the Loan Origination System (LOS)<\/li>\n
  2. The MOZAIQ platform monitors a queue in the LOS and when one or more loans are committed, imports the loan list and initiates the process \u2013 every step is then automated<\/li>\n
  3. The MOZAIQ platform signals to the LOS that the loan delivery process is complete, and the LOS updates the status in the Capital Market System<\/li>\n<\/ol>\n<\/blockquote>\n

    By deploying Mozaiq\u2019s intelligent mortgage automation solution, mortgage lenders can achieve faster ROI and reach their automation goals more quickly, hedging against the origination slowdown and preparing them to scale with digital workers at a lower cost when the origination tide will turn.<\/p>\n

    MOZAIQ\u2019s AI platform\u00a0delivers out of the box and\u00a0customizable process\u00a0orchestration, automation\u00a0frameworks and intelligent\u00a0data processing capabilities \u2013\u00a0ready-made to enable intelligent automation\u200b for the Mortgage industry.<\/p>\n

    Find out more at www.mozaiq.ai<\/a> and check out the process demos at www.mozaiq.ai\/demos\/<\/a>.<\/p>\n<\/div><\/div><\/div><\/div><\/section>

    Find out how we can support all of your intelligent mortgage automation needs.<\/span>BOOK A DEMO<\/i><\/a><\/div><\/div><\/div><\/section>
    <\/div>\n<\/section>","protected":false},"excerpt":{"rendered":"[vc_empty_space]Should I Automate Automation is no longer an \u201cif\u201d but a \u201cwhen\u201d in the Mortgage industry, as mortgage lenders rush to automate their processes in search of greater efficiencies as rising interest rates and the drop in loan volume compress their already thin margins.\u00a0 The challenge is that they lack the know-how to effectively develop an automation solution.\u00a0 This post illustrates how mortgage lenders can easily automate their mortgage processes without having to invest in expensive software licenses and without requiring in-depth technology and automation skills in-house. MOZAIQ is a leading fintech company that delivers Intelligent Mortgage Automation solutions and pairs decades of Mortgage domain knowledge with expertise in the premier automation products in market, such as Automation Anywhere, UiPath, Google AI, and Microsoft AI.\u00a0 We offer a suite of pre-built automation solutions together with an opinionated deployment roadmap based on years of experience in deploying technology solutions in the Mortgage industry.\u00a0 Our solutions are rapidly configured and deployed enabling clients to achieve a faster ROI with savings of up to 60%, allowing them to deploy skilled resources to high value tasks, achieve greater loan throughput i.e., a higher number of loans can be processed in the same amount of...","protected":false},"author":4,"featured_media":28992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56,57],"tags":[],"yoast_head":"\nAutomating Mortgage Origination Processes \u2013 Part I - mozaiq.ai<\/title>\n<meta name=\"description\" content=\"Automating mortgage origination processes is no longer an \u201cif\u201d but a \u201cwhen\u201d, as lenders rush to automate in search of greater efficiencies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mozaiq.ai\/automating-mortgage-origination-processes-part-i\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Automating Mortgage Origination Processes \u2013 Part I - mozaiq.ai\" \/>\n<meta property=\"og:description\" content=\"Should I Automate? Automation is no longer an \u201cif\u201d but a \u201cwhen\u201d in the Mortgage industry, as mortgage lenders rush to automate their processes in search of greater efficiencies as rising interest rates and the drop in loan volume compress their already thin margins. The challenge is that they lack the know-how to effectively develop an automation solution. 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Automation is no longer an \u201cif\u201d but a \u201cwhen\u201d in the Mortgage industry, as mortgage lenders rush to automate their processes in search of greater efficiencies as rising interest rates and the drop in loan volume compress their already thin margins. The challenge is that they lack the know-how to effectively develop an automation solution. 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