Optimizing Mortgage Operations with Automation for Speed & Savings

ObjectiveSummary

To automate data retrieval and reporting, reducing errors, improving efficiency, and ensuring accurate, timely reports.

The Challenge

The leading Mortgage Service Provider in the U.S. faced significant inefficiencies in the Servicing group’s process of retrieving customer loan details from multiple systems and applications. The team was required to manually enter this data, along with a set of predefined investor codes and the current date, into a mainframe system for report generation on the AIP portal. This manual, multi-step process was time-consuming and prone to errors, resulting in inaccurate reports, increased costs, and operational delays.

These inefficiencies not only impacted productivity but also jeopardized customer satisfaction, strained resources, and led to compliance risks due to the generation of incorrect data.

The Solution

Empowering Efficiency and Accuracy: Automating Loan Data Management for Faster, Error-Free Operations

To streamline the process of retrieving and entering customer loan details across multiple systems to reduce manual errors and improve efficiency, Moder used:
Blue Prism-based Robotic Process Automation (RPA) automates loan data management.
The RPA bot automatically logs into the Loan Sphere application, inputs customer and loan details (such as the current date and investor codes) into the MSP Explorer, triggers the generation of reports, and sends notifications to the business team via MS Outlook for further action.
Duration: Implementation in 2.5 sprints, including 0.5 sprint for design and 1 sprint for implementation.
Discovery Process: Involves a detailed process analysis to identify bottlenecks and opportunities for optimization.
Automation Impact: Automating key data entry and report generation tasks reduces manual errors, enhances reporting speed, and improves overall operational efficiency.
Outcome: More accurate, timely, and cost-effective reporting process, with improved customer and business team satisfaction.

The Outcome

90% Improvement in Cycle Time: Reduced processing time from 120 minutes to just 4 minutes.
Annual Cost Savings of $80K to $100K: Significant reduction in operational costs through process automation.
Optimization of FTE Resources: Streamlined processes allowed for better resource allocation and increased efficiency.

improvement in cycle time

$0k

Annual cost savings

Related Services

Optimizing Mortgage Operations: Leveraging Automation for Speed and Cost Efficiency

ObjectiveSummary

Empowering Efficiency and Accuracy: Automating Loan Data Management for Faster, Error-Free Operations

Related Services