RPA saving the time by automating Mortgage process
Mortgage Processing is considered to be one of the most tedious and time-consuming parts of an Underwriter’s job. It is a manual data entry process where load data is added to the LOS.
This process exactly fits the requirements of the RPA process as it is governed by yes/no and If/Else conditions which are rule-based and repetitive. A bot can produce accurate results that are difficult to attain in the manual process.
Also, with a huge load of manual entry taken away from Underwriters, they can focus on more important jobs like analyzing unstructured data which includes letters of explanation from the borrower or evaluating the loan application process.
With RPA, a company can leverage on accurate and time-saving Mortgage Processing but also utilize the man force efficiently.