Services for every step of the Mortgage Life Cycle
FXT’s combination of accuracy, consistency and speed for processing mortgage documents impacts the bottom line, improves customer satisfaction and retention rates
The following are some of the many benefits of FXT mortgage services:
Access to a team of 1000+ document professionals
Additional bandwidth/resources to handle things from start to finish
Exceed customer satisfaction goals
Achieve SLA commitments
Significant cost savings
Accelerate revenue opportunities
Enhanced compliance and business intelligence
Robust reporting, dashboards and analytics that enable problem identification
Close loans faster with less manual effort
Pinpoint and eliminate process bottlenecks
Gain higher data accuracy
Provide a winning combination of accuracy, consistency and speed
Streamline and ensure quality control
Improve operational efficiency, and client experience
FXT Loan Lifecycle Business Process Management Services
FXT provides BPM based mortgage services for brokers, lenders, banks, and credit unions.
FXT helps customers comply with regulations, manage risk, and improve the quality of their loans.
FXT provides the tools, services and resources required to:
Simplify mortgage risk management by identifying and indexing documents, completing business rules and alerting users to items requiring attention
Implement a robust quality control system
Close loans faster with less manual effort
Identify and remedy process bottlenecks
Gain higher data accuracy
Comply with regulations
Manage risk
Improve loan quality
Reduce cost
Improve operational efficiency and client experience
Streamline, automate and ensure quality control so you're profitable and compliant
FXT Origination Services
Borrower submits a large batch of mortgage documents, data needs extraction and validation for underwriting
Challenges:
Mortgage files often contain multiple versions of each document type
Documents are often received in different batches and are difficult to track
Data is consistently re-validated by each function before their step in the process
FXT provides workflow and automation capabilites reducing manual tasks allowing SMEs to focus on exceptions.
Loan Setup
FXT AI, IPA and RPA streamline Loan Setup
FXT AI software dramatically reduces intake by identifying, separating, naming, and indexing loan documents
Machine learning coupled with quality control algorithms quickly identify new documents. Required data from these documents can then be extracted, validated and delivered
Loan processor productivity is increased by replacing error-prone manual processes with FXT technology
The FXT system is used to automatically identify and report missing and incomplete documents
FXT AI system provides a complete workflow for procuring the data and documents required
FXT AI software interacts with the source LOS / LMS to exchange workflow data
Underwriting
Underwriters often spend too much time:
Validating data
Referring to the source documents for data points required
Reviewing and comparing data
Sorting and managing different document versions
Working with Excel spreadsheets to maintain versions of data points
When they should be working on risk assessment, risk profiling and core underwriting functions
With FXT AI, underwriters can leverage technology to increase their productivity through automation:
The AI software captures, compares and validates mortgage data
RPA applications and AI software leverage data from mortgage documents and digital sources in the QA process
Data is validated and formatted into an authoritative record for each loan
Underwriters use validated data to make loan eligibility decisions based on defined requirements
Flexible workflow allows for ease of use
Advanced reporting helps maintain audit trail for the processed loans
Post-Closing Audits
If your post closing audits can be described as:
A manual checklist driven process
A list of data points requiring verification
Time consuming
Error prone
Consider switching to the FXT AI mortgage audit tool:
Your team gets access to a flexible workflow
Missing documents and data issues are identified by the AI process
Your SME staff reviews only exceptions
System creates an automated checklist and scorecard for each loan
Loan Packaging and Delivery
FXT AI software:
Selects the requested documents for packaging per customer requirements
Alerts lenders of any missing documents
Provides notification upon acceptance
FXT AI, RPA and IPA technologies reduce lender risk and cycle times
Provides accurate reporting
System | Service | Solution
Customization of services per client requirements
Multi-tier document and data verification process
Customers can leverage our document classification taxonomy that we map to their document classification list
Cost Savings
Automated services:
Increase efficiencies
Reduce operational costs/FTE expenses
Replace error-prone manual processes and associated rework
Reduce document review (stare and compare) time
Your team focuses on processing exceptions:
Allows staff to concentrate on higher value task
Your automated indexing services reduce your operational costs while improving the quality of the extracted text
Technology reduces document review time so your staff can focus on exceptions rather than matching data
Speed
Produce a marked improvement in pre-funding and post-closing timelines
Automated document management & extraction process for reduced processing times
Security
Stringent data privacy and confidentiality agreements
Setup of permission based on customer requirements
