{"id":26409,"date":"2022-12-07T16:44:27","date_gmt":"2022-12-07T16:44:27","guid":{"rendered":"https:\/\/mozaiq.ai\/?p=26409"},"modified":"2023-10-30T21:42:06","modified_gmt":"2023-10-30T21:42:06","slug":"automated-mortgage-loan-setup","status":"publish","type":"post","link":"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/","title":{"rendered":"3x Volume in a Quarter of the Time"},"content":{"rendered":"<section class=\"wpb-content-wrapper\"><section class=\"vc_row wpb_row vc_row-fluid  vc_custom_1654495687320 pofo-row-responsive-662d4b66ed30c\"><div class=\"wpb_column vc_column_container  col-xs-mobile-fullwidth\"><div class=\"vc_column-inner \"><div class=\"wpb_wrapper\">[vc_empty_space]<div class=\" vc_custom_1698702120949 last-paragraph-no-margin\"><h2><strong>The lender is able to complete the loan setup process in 75% less time and process 3x the number of loans<\/strong><\/h2>\n<p>In today\u2019s mortgage economy and its heightened competitive environment, it is important for lenders to maximize efficiencies, lower costs and maintain the highest standards of loan quality. And, it\u2019s important that they effectively deploy and utilize their underwriters.<\/p>\n<p>Why? Because underwriters are valuable resources, and the underwriting function one of the most expensive functions in the loan fulfillment lifecycle. Not to mention that long underwriting turn times have a negative impact on both the cost of originating a loan and customer service.<\/p>\n<p>And, mistakes during the underwriting process directly impact <a href=\"https:\/\/mozaiq.ai\/loan-quality-is-a-critical-success-factor\/\">loan quality<\/a>, which in turn impacts the bottom line and reputation of the lender if too many low quality loans are transferred to GSEs, like <a href=\"https:\/\/www.fanniemae.com\/\">Fannie<\/a> and <a href=\"https:\/\/www.freddiemac.com\/\">Freddie<\/a>, and rejected.<\/p>\n<h2><strong>The Solution<\/strong><\/h2>\n<p>The MOZAIQ Loan Setup Automation solution creates efficiencies from the minute the loan enters the fulfillment pipeline by ensuring that:<\/p>\n<ul>\n<li>The loan file is categorized properly (indexed), and individual mortgage documents are uploaded into the client specific folders<\/li>\n<li>All the necessary disclosures are retrieved, Intent to Proceed is updated and pre-underwriting conditions are cleared<\/li>\n<li>Third party service orders (e.g., Flood certificate, Fraud Report) are collected for the file before pushing the loan to the underwriter for review<\/li>\n<li>The lock confirmation form is sent to the appropriate parties<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-25508 alignleft\" src=\"https:\/\/mozaiq.ai\/wp-content\/uploads\/2022\/06\/mozaiq-home-page-slide-01-300x232.jpeg\" alt=\"\" width=\"266\" height=\"205\" \/>Underwriters receive the loan package in a state that is highly accurate and complete, allowing them to do what they do best: make credit decisions as efficiently as possible, so they don\u2019t spend time manually categorizing loan documents, retrieving disclosures, and clearing pre-underwriting conditions. It\u2019s all done for them, with intelligent automation.<\/p>\n<p>And, MOZAIQ\u2019s Loan Setup automation solution was deployed in less than four weeks, allowing the lender to achieve rapid ROI.<\/p>\n<h2><strong>The Benefits<\/strong><\/h2>\n<p>The <a href=\"https:\/\/mozaiq.ai\/mortgage-process-automation\/\" class=\"broken_link\">loan setup automation<\/a> solution enables the client to achieve 100% straight through processing, while reducing the time it takes to setup a loan (index, retrieve disclosures, order certs &amp; lock confirmation) by 75%.<\/p>\n<p>This enables the lender to process 3x the number of loans during the same time period and with the same number of resources.<\/p>\n<p>And, automated indexing enables the solution to index the loans on a 24&#215;7 basis, without operator intervention.<\/p>\n<p>Finally, the faster loan turn-around time strengthens the customer and broker relationships and increases competitive advantage for the lender.<\/p>\n<\/div><\/div><\/div><\/div><\/section><section data-vc-full-width=\"true\" data-vc-full-width-init=\"false\" class=\"vc_row wpb_row vc_row-fluid  vc_custom_1652776216420 cover-background wow fadeInUp vc_row-has-fill pofo-stretch-content pofo-stretch-row-container pofo-row-responsive-662d4b66ed5a4\"><div class=\"wpb_column vc_column_container vc_col-sm-12 vc_col-md-12 col-xs-mobile-fullwidth wow none text-center\"><div class=\"vc_column-inner \"><div class=\"wpb_wrapper\"><span class=\"text-extra-large margin-25px-bottom vertical-align-middle sm-width-100 display-inline-block alt-font heading-style3  vc_custom_1652327001040 pofo-button-responsive-662d4b66ed6c9  heading-1\"  style=\"color: #ffffff;\">Find out how we can support all of your intelligent automation needs.<\/span><a  href=\"https:\/\/mozaiq.ai\/contact-us\/\" target=\"_blank\" class=\"btn pofo-button-1  wow fadeInUp button-style6  btn-white btn-rounded  btn-medium  pofo-button-responsive-662d4b66ed778\" ><i class=\"fas fa-play-circle icon-very-small  margin-5px-right no-margin-left\" aria-hidden=\"true\"><\/i>Contact Us<\/a><\/div><\/div><\/div><\/section><div class=\"vc_row-full-width vc_clearfix\"><\/div>\n<\/section>","protected":false},"excerpt":{"rendered":"[vc_empty_space]The lender is able to complete the loan setup process in 75% less time and process 3x the number of loans In today\u2019s mortgage economy and its heightened competitive environment, it is important for lenders to maximize efficiencies, lower costs and maintain the highest standards of loan quality. And, it\u2019s important that they effectively deploy and utilize their underwriters. Why? Because underwriters are valuable resources, and the underwriting function one of the most expensive functions in the loan fulfillment lifecycle. Not to mention that long underwriting turn times have a negative impact on both the cost of originating a loan and customer service. And, mistakes during the underwriting process directly impact loan quality, which in turn impacts the bottom line and reputation of the lender if too many low quality loans are transferred to GSEs, like Fannie and Freddie, and rejected. The Solution The MOZAIQ Loan Setup Automation solution creates efficiencies from the minute the loan enters the fulfillment pipeline by ensuring that: The loan file is categorized properly (indexed), and individual mortgage documents are uploaded into the client specific folders All the necessary disclosures are retrieved, Intent to Proceed is updated and pre-underwriting conditions are cleared Third party service...","protected":false},"author":2,"featured_media":24797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Automated Mortgage Loan Setup - mozaiq.ai<\/title>\n<meta name=\"description\" content=\"With automated loan setup, the lender is able to complete the loan setup process in 75% less time and process 4x the number of loans\" \/>\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\/automated-mortgage-loan-setup\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Automated Mortgage Loan Setup - mozaiq.ai\" \/>\n<meta property=\"og:description\" content=\"With automated loan setup, the lender is able to complete the loan setup process in 75% less time and process 4x the number of loans\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/\" \/>\n<meta property=\"og:site_name\" content=\"mozaiq.ai\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-07T16:44:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-30T21:42:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mozaiq.ai\/wp-content\/uploads\/2022\/05\/MOZAIQ-Customer-Story-002-1024x512.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Francesco Paola\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Francesco Paola\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/\",\"url\":\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/\",\"name\":\"Automated Mortgage Loan Setup - mozaiq.ai\",\"isPartOf\":{\"@id\":\"http:\/\/mozaiq.ai\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mozaiq.ai\/wp-content\/uploads\/2022\/05\/MOZAIQ-Customer-Story-002.png\",\"datePublished\":\"2022-12-07T16:44:27+00:00\",\"dateModified\":\"2023-10-30T21:42:06+00:00\",\"author\":{\"@id\":\"http:\/\/mozaiq.ai\/#\/schema\/person\/ccb21b189e126519514c1941426f4bd1\"},\"description\":\"With automated loan setup, the lender is able to complete the loan setup process in 75% less time and process 4x the number of loans\",\"breadcrumb\":{\"@id\":\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/#primaryimage\",\"url\":\"https:\/\/mozaiq.ai\/wp-content\/uploads\/2022\/05\/MOZAIQ-Customer-Story-002.png\",\"contentUrl\":\"https:\/\/mozaiq.ai\/wp-content\/uploads\/2022\/05\/MOZAIQ-Customer-Story-002.png\",\"width\":2000,\"height\":1000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mozaiq.ai\/automated-mortgage-loan-setup\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mozaiq.ai\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"3x Volume in a Quarter of the Time\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/mozaiq.ai\/#website\",\"url\":\"http:\/\/mozaiq.ai\/\",\"name\":\"mozaiq.ai\",\"description\":\"MOZAIQ Intelligent Mortgage Automation.  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