‘Empower’ your loan teams with advanced process automation

Task-based processing is revolutionizing the way mortgage loans are originated and fulfilled. The Empower® loan origination system (LOS) leverages an advanced and lender-configurable robotic process automation framework to circumvent the bottlenecks of time-dependent and manual tasks. This enables loan teams to direct their focus toward customer-centric activities that deliver unparalleled experiences to prospective borrowers and homebuyers.

Where automation begins

At the heart of task-based processing in the Empower LOS is a technology known as “Change Data Capture.” This functionality captures changes to loan-level data to trigger actions that are highly configurable for each lender using the solution. Examples of triggers include, but are not limited to:

  • Changes to any data element in the Empower LOS
  • Creating, assigning or completing another task
  • Receiving a document or document package
  • Approaching a specific critical date/time (i.e., 10 days prior to close)
  • Receiving a service response such as credit, appraisal, flood, compliance, etc.

Understanding task-based processing

The Empower LOS enables true task-based processing, which means that automated actions (or tasks) are triggered by data and events rather than by a predefined, linear workflow path. Since virtually any data point or event can trigger any action, this automated processing leads to much higher operational efficiency for loan teams.

For example, the submission of a loan application or the borrower’s indication of Intent to Proceed can trigger the systematic ordering of services such as credit, appraisal, title, flood, etc. When those services run, the findings can then initiate additional tasks. In this case, imagine the data returned in the flood response indicates that the property is in a flood zone. An automated task can fire to create and deliver the flood package and send an email or text to the processor and/or the borrower notifying them that flood insurance is required.

Automating these conditional processes significantly reduces redundant work and allows processors and underwriters to focus their time and attention on the exceptions and tasks that require human decisioning or intervention.

Align automation-driven workflows with parallel processing

Parallel processing complements all of this by handling multiple tasks simultaneously, greatly accelerating the overall loan origination process. This means that tasks can be delivered to multiple teams or individuals at the same time, eliminating the latency between the completion of critical tasks that is common with traditional workflow models and significantly reducing cycle time. For example, in some cases, it might make sense for the closing team to begin preparing a file for settlement while the final underwriting review is being performed. These two processes do not necessarily need to be sequential, and parallel processing can manage them concurrently, removing days from the process.

The value of automation

By leveraging the advanced task-based and parallel processing capabilities delivered with the Empower LOS, lenders give their loan teams the tools they need to process more mortgage loans much more efficiently. The platform can automate many of the redundant tasks users have historically performed manually, ensure time isn’t lost between critical tasks, and help prevent costly compliance errors by carefully automating compliance checks whenever data is changed that impacts regulatory rules and guidelines.

The Empower LOS offers extensive flexibility during setup to ensure this automation meets each lender’s specific needs. Automation isn’t here to replace your team members—it’s here to make your teams more efficient and drive value for your organization by allowing you to scale your business without adding headcount.