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How Underwriting Became Cool

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How Underwriting Became Cool

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    1. How Underwriting Became Cool…

    2. Why should we change underwriting?

    3. Competing in the Mortgage Industry Sales and Production must differentiate to garner more and better loans Easier to do business with Faster, higher level of turnaround Ability to track and manage information via the Internet Operations must deliver higher service with less cost Streamline processes to remove points of “friction” Manage loan processes with fewer people Eliminate costs

    4. Traditional Loan Origination and Underwriting

    5. Loan Origination and Underwriting – The Cool Way

    6. A Path to Collaborative Image-Based Underwriting Paper -> Imaging in-house -> Collaborative Networks Without multi-party collaboration, any solutions that attempt to drive paper out of one part of the process will have paper re-emerge in another part of the process. Enabling end-to-end collaborative underwriting Eliminate paper at the beginning of the mortgage process: origination Enable brokers / originators to submit loans electronically Use electronic images to underwrite loan Facilitate two-way, workflow-based communications Provide access to information with anytime, anywhere on-demand web solution for all participants Eliminate physical paper movement and storage

    7. Collaborative Loan Folder

    9. Summary: Image-based Underwriting Efficiency gains Electronically load-balance loans to off-site / off-shore underwriting resources Immediate deliver and access provides faster turn-times Simultaneously access of imaged loan folder allows for immediate feedback by all parties (Broker/LO, AE, Underwriter, etc..) Improved communication and accountability Streamlined notifications and conditions Underwriting Survey Says… Reduced Calls Per Day - 18.8 -> 5.8 (69% ) Streamlined Conditions and Notification Process - 71% Yes Learning Curve - 69% < 1 week

    10. Thank you

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