Lending

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

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