Why It's Time to Start Considering Automated Lending Solutions

Lenders, mortgage bankers and credit unions are no strangers to the complex, moving puzzle that is loan documentation. Advanced lending solutions transform these processes by providing the information capture and delivery necessary to support each step of the document lifecycle, including origination, processing, underwriting, closing and more. 

4 Reasons Companies Should Give Lending Solutions a Shot

Manual loan processing leaves lenders to contend with tight margins, revolving regulatory compliance and risk-based decision making. And these problems trickle down directly to clients. The answer? Automated lending solutions. 

Not only does automated technology mitigate common challenges faced by lenders and bankers, but it also delivers operational benefits and advantages companies can’t get with paper-based solutions:

  • Improved Customer Service – Automated, intelligent lending and capture solutions allow lenders to process loan packages and paperwork faster than they could manually. Applications, credit reports and employee verification are processed in a more timely manner, meaning borrowers receive a decision on their loans faster – and have access to funds sooner. 
  • Streamlined Regulatory Compliance –  Mortgage bankers and commercial lenders must adhere to strict federal regulations. Lending solutions help companies stay on top of regulations (like TILA-RESPA) to avoid penalties and non-compliance fines. Automated solutions classify and validate data, guaranteeing necessary information is included in documents.  
  • Increased Operational Efficiency – Paper-based, antiquated lending solutions bog down operational and backend processes. Manual data entry takes too much time, and is prone to human error. Not to mention, re-entering information decreases company productivity. Automated technology reduces the need for manual data entry, scanning and photocopying. In turn, employees are free to focus on other tasks.
  • Enhanced Auditing & Reporting – The Home Mortgage Disclosure Act (HMDA) requires financial institutions to make certain mortgage data available to the public. Lending solutions can digitally store documents, making information readily available to anyone who needs it. It also simplifies auditor access, and makes report generation simple.  

Lending Solutions Made Simple with ibml

Lenders and mortgage bankers need a reliable, fast method for processing loan applications and packages. That’s where ibml comes in. We deliver intelligent solutions that capture and deliver the information lenders need to swiftly move through the loan document lifecycle. 

Our technology automates information capture for any documents included in loan packages, including applications, checks, correspondence, titles and more. Who benefits from ibml solutions? 

  • Mortgage Bankers
  • Banks & Credit Unions 
  • Originators
  • Servicers
  • Third-Party Service Providers
  • System Integrators

Don’t waste time on lending solutions that don’t get the job done. Contact ibml today to get started.