Origination Process Automation

Nexval Origination Process Automation is Designed for Your Business

At Nexval, we bridge the gap between loan origination systems (LOS) like Unifipro, Lakewood, Fiserv, Encompass, and others to lay the foundations for automation in mortgage origination. Businesses can gain from a connected workflow and unified origination process management. Nexval delivers mortgage automation bots that work across LOS platforms to dramatically shrink the workload involved in loan setup, document and data reviews, and closing procedures.

Automated Loan Setup

We use AI techniques like optical character recognition to accurately index a wide variety of data types with minimal effort. We ensure pre-qualification through automated LOS data validation for every new relationship.

Agile Document Processing

Our solution for automation in mortgage origination recognizes 800+ document types, and we are constantly growing the repository. Whether it is a RESPA review or a GFE check, it can adapt to any origination use case.

Machine Augmented Underwriting

We combine machine intelligence with human judgment to deliver error-free underwriting outcomes. Nexval Origination Process Automation is designed for fraud, appraisal, credit reporting, and other reviews.

Action a Smarter, More Improved Loan Origination Workflow

Automated origination means that you leverage RPA mortgage bots and AI tools to complete key steps in the early stages of a lender-borrower relationship. From loan setup and document reviews to risk-free underwriting, automation in mortgage origination completely transforms how you approach ops. This could benefit every origination channel; be it retail or wholesale.

Intelligent automation improves essential elements of the origination journey:

A 24/7 loan setup process that is standardized and free of effort duplication	Automated validation of LOS data for 100% first-pass accuracy	Faster turnaround time for new relationships without adding overheads
Greater agility to accommodate new types of origination documents and new regulations	Assisting human workers to improve the employee experience and eliminate mundane tasks	Automatic multi-level checks, quality control, and reviews via RPA mortgage bots

Why Now’s the Time to Automate Origination?

With an economic resurgence on the horizon, mortgage lending for new home purchases and refinances are all set to rise. An automated origination process can help lenders cope with high volumes without the risk of errors. In a traditional origination workflow, there is a possibility of inaccurate accounting practices, fragmented loan tracking, overlooked malpractices, delays, and even non-compliance.

Automation in mortgage origination reduces your need to depend on manual effort to process the end-to-end origination workflow. It controls both costs and risks.

The benefits of a technology-driven origination process are well-established. Now, in the wake of the COVID-19 pandemic, they are a must-have rather than a nice-to-have for your business. With customers conducting transactions on a remote basis, the risk of human oversight (already high due to manual dependence) increases. This holds lenders back from achieving the standardization, speed, and agility they need. By automating the origination phase, you can ensure that every relationship starts off on the right foot.

Ready to automate your origination processes?

Resources

What Does an Agile and Flexible
Origination Process Look Like?

Through research, our mortgage tech gurus have uncovered 11 pervasive challenges that hinder origination agility. These impact core tasks from loan setup and underwriting to pre-purchase reviews and document management. Automation in mortgage origination addresses them

A Practical Guide to Using RPA for
Lean and Efficient Mortgage Processes

RPA can shrink timelines by 80% at the loan origination stage. However, to maximize automation gains, you need to steer clear of common pitfalls like DIY solutions and generic automation tools. Done right, RPA could be a vital enabler for lenders in 2022 and beyond

Nexval Streamlines Loan Origination
Spanning 800+ Doc Types

An origination team was looking to optimize its loan file review process. At that time, it relied on manual spreadsheets, and had no concrete performance KPIs. Nexval automated reviews for 800+ document types, supported by KPIs gleaned from Six Sigma & Lean methodologies.