skip to content

We use cookies to offer you a better browsing experience, analyze site traffic, personalize content and serve targeted ads. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or they have collected from your use of their services. Read how we use cookies and how you can control them in our Cookie Disclosure Policy. By using our site, you consent to our use of cookies.

Case Study

Cutting Costs and Risks with DocGenius

Client Information

The lender is a top lender/servicer with a $380 billion servicing portfolio and multiple production channels.

Background

The client had nearly 20,000 final documents outstanding before DocGenius (formerly ViewPoint) was implemented. Before implementation, the client’s practice was to initiate final document follow-up when the loan aged 120 days. Before the use of DocGenius, 20 percent of documents were outstanding at 210 days.

Problem Statement

This client frequently lacked the final documents needed to prove a security interest or adequate title insurance coverage on loans. In addition, problems arose involving the originating correspondent lender and/or the title agent when they were no longer in business. These problems imposed significant costs and delays in retrieving the required documents.

Solution Summary and Key Benefits

To help the client improve document management, reduce risk, and cut costs, Indecomm implemented its DocGenius (ViewPoint) solution and also provided the client with a comprehensive and consistent audit regardless of production channel or loan type.  Indecomm helped the client strengthen their document management using its proprietary document management technology, DocGenius. The technology provides real time tracking of final document submissions from title agents and correspondent lenders and empowers users to proactively reduce document-related risks and lower costs. This solution also improves the performance of their title providers and correspondent lender by providing visibility into performance and timelines.

The Result

  • Within nine months of using DocGenius, the percentage of documents outstanding dropped significantly from 20% to less than 5% overall
  • In one of the clients’ business channels, the percentage of outstanding documents dropped to less than 1% within the 9 month time span
  • Leveraging DocGenius, the clients gained visibility into document and agent performance, enabling them to proactively identify defects before costly curative action became necessary
  • Additionally, DocGenius provided the client with a comprehensive and consistent audit regardless of production channel or loan type.

“DocGenius isn’t just a document management tool. It is a  provides lenders a cost effective solution to identify at risk loans as well as underperforming title agents and correspondent lenders.” – Rajan Nair, CEO