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Solving Loan Processing Through Automation
The document discusses challenges with manual loan processing including high costs, difficulty meeting timing requirements, and security issues sending sensitive documents to third parties. It proposes automating loan processing using Zia Consulting's Capture Framework and ACE Accelerator which would reduce costs, improve scalability and security, and enhance customer service by allowing processing from any location. The solution includes a loan origination system and can benefit retail providers, investors, and quality assurance teams by improving customer satisfaction and risk management.
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Solving Loan Processing Through Automation
- 1. Solving Loan Processing ThroughAutomation
- 2. ©2017 Zia Consulting,Inc. All Rights Reserved. Introduction page 02 Pat Myers EVP & Co-Founder at Zia Consulting
- 3. ©2017 Zia Consulting,Inc. All Rights Reserved. page 03 Current Challenges Expensive: Spending $15-$30 per package Timing: Controlled SLAs Security: Sending content to a 3rd party
- 4. ©2017 Zia Consulting,Inc. All Rights Reserved. page 04 Challenges With Manual Processing Error-prone Sending Personally Identifiable Information Offshore Hard to Scale
- 5. ©2017 Zia Consulting,Inc. All Rights Reserved. page 05 Capture Framework + ACE Accelerator Advantages Less Expensive Marketing Outreach Mobile Management Enhanced Customer Service
- 6. ©2017 Zia Consulting,Inc. All Rights Reserved. page 06 Capture Framework + ACE Accelerator Advantages Controlled SLA Scalable Secure In house or in the cloud
- 7. ©2017 Zia Consulting,Inc. All Rights Reserved. page 07 Pretrained Documents 1003 Uniform Residential Loan Application 1004 Uniform Residential Appraisal Report 1008 1099 3140 Rider Condo 3150 Rider PUD 3153 1 Year LIBOR 10 Yr Interest Only Rider 3170 Rider 1-4 Family 3187 Rider ARM 5-1 7-1 10-1 1 Yr WSJ LIBOR 3200 Note Fixed 3528 Note ARM 5-1, 7-1, 10-1 Yr WSJ LIBOR 3535 Multi 1 Yr LIBOR Ten-Year Interest Only Note 3890 Rider Second Home 4506 Request for Copy of Tax Return 4506-T Request for Transcript of Tax Return Abstract of Title Notice Acknowledgement of Receipt of GFE and TIL Acknowledgement of Receipt of Home Mortgage Loan Informational Document Acknowledgment and Waiver of Borrowers Rights Rider Addendum to Loan Application Affidavit of Intent to Apply for Joint Credit Affidavit of Listing and Ownership Affiliated Business Arrangement Disclosure Agency - Escrow Disbursement Agreement Allonge to Note Amendment to Purchase Contract Amortization Schedule Anti-Coercion Insurance Disclosure Anti-Steering Disclosure of Loan Options Application Disclosure Appraisal Appraisal Acknowledgement Appraisal Independence Disclosure Appraisal Waiver Acceptance Form Appraiser License Approval Terms and Conditions ARM Disclosure Assessment Assignment of Deed of Trust Assignment of Mortgage Assignment Sale or Transfer of Servicing Assumption of FHA Mortgages Attestation - IMC AUS Findings Authorization for the SSA To Release SSN Verification Authorization of Overnight Delivery Services Bank Statements Borrower Explanation Letter Borrower Fee Acknowledgement Borrower's Escrow Instructions Breakdown of Amount Owed CEMA Certificate of Loans to One Borrower Certification and Authorization Choice of Insurance Notice Closing Disclosure Closing Instructions Closing Protection Letter Closing Worksheet CLTA Preliminary Report Form Collateral Protection Act Notice Commitment for Title Insurance Commitment Letter Common Interest Community Act Consumer Credit Transaction Disclosure Credit Report Credit Score Disclosure Credit Score Notice Deed of Trust/Mortgage Disclosure Form Disclosure of Servicer Disclosure Receipt Earnings Statement Earthquake Insurance for Condominiums Disclosure Energy Efficient Mortgage Program Errors and Omissions-Compliance Agreement Escrow Account Disclosure Escrow Account Disclosure Agreement Escrow Waiver ESIGN Consent Estimated Closing Statement Estimated HUD-1 Settlement Statement Evidence of Property Insurance Exhibit A FACT Act Notice Fair Lending Notice FDIC Coverage Disclosure Federal Equal Credit Opportunity Act FHA Amendatory Clause-Real Estate Certification FHA Deed of Trust FHA Note Fixed FHA Rider Condo FHA Rider PUD Final Financing Agreement First Lien Letter First Payment Letter Flood Certificate Flood Insurance For Your Protection Get a Home Inspection Fraud Report Funding Letter GFE - Good Faith Estimate Gift Letter Goodbye Letter Grant Deed Hardship Hazard Insurance Disclosure HOA Master Insurance Policy Homebuyers' Protection Act Housing Counselors HUD-1 HUD-1 Addendum HUD-1A Important Notice to Homebuyers Impound Account Statement Income Tax Return Informed Consumer Choice Disclosure Insect Inspection Report Insurance Disclosure Itemization of Amount Financed 01-01-10 Licensee Information or Affidavit Loan Agreement Notice Loan Estimate Mortgage Escrow Account Act Mortgage Escrow Account Act Applicability Mortgage Insurance Certificate Mortgage Fraud Nearest Living Relative New Financing Amendment Notice Concerning Furnishing Negative Information Notice of Penalties for Making False or Misleading Statement Notice of Required Flood Insurance Notice of Updated Disclosures Notice Pursuant to O.C.G.A. Section 7-1 Notice To Cosigner Occupancy Statement Other Owner Affidavit of Non-Homestead Patriot Act Disclosure Payment Receipt Payoff Statement Paystub Per Diem Interest Disclosure Pledged Time Deposit Account Disclosure Power of Attorney Privacy Policy Disclosure Proof of ID Property Inspection Waiver Disclosure Property Owner's Affidavit Property Tax Benefits Property Tax Escrow Option Property Tax Payment Inquiry Quitclaim Deed Rate Lock-in Agreement Real Property Recordation and Transfer Tax Form FP 7-C Reasonable Means Disclosure Refinance Disclosure Renewal and Extension Exhibit Request for Certificate of Veteran Status Right to Cancel H-8 Right to Choose Own Attorney Sales Contract Servicing Disclosure Statement Settlement Service Providers Signature-Name Affidavit Statute of Frauds Disclosure Tangible Net Benefit Disclosure Tax and Insurance Information Sheet Tax Certificate TIL Terms and Definitions Title Title Insurance Rider Truth-In-Lending Disclosure Truth-In-Lending Total Payments Itemization UCDP SSR Undisclosed Mortgage Affidavit
- 8. ©2017 Zia Consulting,Inc. All Rights Reserved. page 08 This Solution can be used by: Retail Service Providers Investors Quality Assurance And more
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- 10. ©2017 Zia Consulting,Inc. All Rights Reserved. page 010 Additional Benefits Customer Satisfaction Risk Management
- 11. ©2017 Zia Consulting,Inc. All Rights Reserved. page 011 Complete Solution Includes LOS
- 12. ©2017 Zia Consulting,Inc. All Rights Reserved. Who Is Zia Consulting? page 012 95% retention rate with our proven track record of delivering solutions on-time and within budget Founded in 2003 in Boulder, Colorado Our mission is to provide ECM planning, design, implementation, and support services Platinum system integrator for both Ephesoft and Alfresco
- 13. ©2017 Zia Consulting,Inc. All Rights Reserved. Best In Class page 013
- 14. ©2017 Zia Consulting,Inc. All Rights Reserved. page 014 Resources & Events ziaconsulting.com/resources/case-studies/ View our Case Studies: Visit us at the MBA Expo in Denver!
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- 16. ©2017 Zia Consulting,Inc. All Rights Reserved. Contact Us address 5525 Central Avenue Boulder, Colorado phone office +1-888-732- 4104 online pmyers@ziaconsulting.c om ziaconsulting.com facebook/ziaconsulting twitter/ziaconsulting page 016
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