Automated Loan Document Comparison

-Automation solutions to optimize the comparison of loan estimates and closing disclosures-

Client Information
Indecomm’s client is one of the Top 5 lending institutions in the U.S.

Background
The client provides mortgage lending services through thousands of banking offices located throughout the country.

Problem Statement
Indecomm’s client acquired a pool of 13,000 loans, which had been held by the FDIC as receiver for a number of regional banks and our client needed assignments for those loans drafted and recorded as quickly as possible. Copies of the security instruments to be assigned were only available in hardcopy paper format.

Solution Summary and Key Benefits

• Our client boxed up the hardcopy documents in batches over a couple-week period and sent them to Indecomm’s secure document management facility in St. Paul, MN.
• When Indecomm received the documents they were imaged and passed back to the client to be uploaded to its system. The hard copies were then returned to the client’s storage facility
• Indecomm used the document images to script all the assignments and uploaded them in batches to a print queue accessible to the client. The client printed, executed, and returned the documents to Indecomm to send to the applicable jurisdiction for recording
• Upon recordation of the assignments, Indecomm imaged the assignments and passed the assignments back to the client to be uploaded to their system

The Result

• Indecomm’s client was able to update its system with images of both the acquired security instrument and the recorded assignment without bringing in additional employees for scanning
• The client was able to execute assignments at its own pace and spread the work amongst a multiple signors and notaries
• Our client was able to keep its resources focused on day-to-day responsibilities without the need to staff up to handle the assignment project
• Our client established a long term relationship with Indecomm to use our flexible staffing capabilities to handle future bulk assignment projects

 

“Working with Indecomm, we gained an intelligent and knowledgeable talent partner and a clear leader in automation solutions. The pace of work and the approach to productivity offer us peace of mind at every level.”