Automating Your Mortgage Underwriting Process

Redesigning mortgage origination with instant risk analytics and decisioning

It’s been called the ‘second digital mortgage revolution’ – the transformation of the back office to support a digital front end for mortgage applications.

Rocket Mortgage from Quicken Loans is arguably the poster child for this revolution. An online mortgage with conditional approval in around 10 minutes, it is redefining the mortgage origination process. Quicken Loans hastens to point out that Rocket Mortgage is more than a front-end – that it is the work behind the scenes, connecting the various automated procedures, systems, and software, that makes it clever.

Automation has, of course, been cutting costs and improving efficiencies in businesses for years, but in many industries, a lot more can still be done. In fact, McKinsey & Company suggest that 45 percent of activities people currently undertake at work could be automated. Mortgages are a case in point, with brokers spending as much as 90 percent of their time processing loan applications. If automation cut this down, it could help shorten wait times for the customer.

One look at the average time to closure for mortgages – a hefty 46 days in August according to the Ellie Mae Origination Insight Report – and the need for speed is clear.

Provenir makes it easy to automate mortgage processes. The flexible Provenir platform orchestrates the mortgage process from start to finish, automatically enriching data, applying scorecards and risk models, and recommending the next best action for each customer request. With Provenir driving your mortgage underwriting process, you can make the right decisions and make them faster to deliver outstanding customer service, shorten time to revenue and minimize risk.

With Provenir you can

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