According to a study conducted by Fannie Mae, the nationwide average cost for the origination of a loan is $1,800
Why is DocuClass a good fit for lending?
- Time is money. Instantly available documents to work on, comment on, and route for approval can significantly increase lending processing efficiency.
- Drastically reducing time spent filing, refiling, and searching for documents can result in significant savings.
- The industry is embracing imaging technology – brokers, correspondent lenders as well as the secondary market now accept imaged documents.
- Faster document handling improves customer service & overall customer retention.
- Less paper reduces copying, shipping, and storage costs
After implementing DocuClass, Procredit achieved a 35% reduction in loan processing and approval time and costs as well as a 15% increase in the number of loans processed per year
DocuClass Lending Solutions:
- Improve productivity
- Reduce processing bottlenecks
- Document versioning to ensure all users are working with the most accurate and up to date information
- Central location to access customer records
- Workflows to automate approval and exception handling
- Document retention policies to reduce lost documents
- Ability to monitor document access and retrieval with security policies
- High level reporting tools using metrics dashboards