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AutoStore Loan Origination Capture

by Ian


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Customer loan origination example with MFP integration into bank’s loan origination system (LOS):
- Banker meets with Laura Wilson and begins the loan process in the bank’s LOS .
- The banker loads Laura's documents in the MFP’s ADF and presses the “Loan Origination” icon.
- The banker is presented with a list of pending loans to be processed and selects Laura’s account .
- The banker is provided a list of required documents based on compliance rules for Laura’s specific loan and scans the documents.
- Smart Document Capture checks the loan packet for compliance and the required corrections are discussed with Laura while she is in the branch.
- Laura is told by the banker, and later via email, that a 2nd W-2 is required .
- Laura’s email from the bank gives her 3 ways to provide the missing W-2. She chooses to email the W-2.
- The banker is notified via email that Laura has submitted the outstanding W-2.
- Laura, the banker, and back-office underwriters are all on the same page as to the status of the required documents.
- Laura’s documents are indexed in a manner consistent for all of the bank’s loans – making for easy retrieval and auditing.
- Laura’s PII is protected as her social security numbers are redacted on each of the W-2’s during the scan process.