District Court Judge Richard J. Arcara, for her role in approving fraudulent loans. As previously reported by Mortgage Fraud Blog, Vinas was an employee of the Federal Guaranty Mortgage Company based in Florida, and was responsible for the underwriting of loans which included complete review of loan applications, including supporting documentation and verification of information placed on loan applications.
This was a proof of concept POC project in the loan industry. As we move through this series, I will highlight some finer details of features and design. In this demonstration we use BPM and ODM to create an application that helps process requests for loan underwriting from a government agency.
The users in this demo will be from either the mortgage industry i. This type of requirement is common across any industry with regulatory oversight and BPM and ODM are excellent platforms to turn those requirements and forms into streamlined applications with built-in rules processing.
All work items can be found in the Process Portal, a page that presents users with the tasks they can take ownership of and work on. You might think of it as a daily to-do list.
From this view, users can see the loans they have submitted for underwriting and some of the status indicators. Filters and saved searches let users find items quickly, as you will see in later videos, it is possible to see precisely where any work item is in the process, literally tracing it through the workflow.
Since we will be examining this application from the point of view of both bankers and the underwriters, as you might imagine, users with different job roles will have different views of these items. We could have used a file uploader to enter the loan applications as well as building an API connector to import them from another system.
BPM comes equipped for a variety of interfaces to enable connections with your internal systems or API-enabled external systems such as the postal service example in this video. As we move through these videos, we examine how: An application passes from a banker to the underwriter Loan Applications are triaged System Integrations are implemented Business owners control business rules These tools can be applied to your business regardless of category.
In a broad sense, managing workflows, documentation, notifications, process approval, and business-logic are universally useful. If want to learn how Apex can help your company experience a Digital Business Automation makeover, contact us at info apexbpm.If you’re like most people who buy a home, you take out a mortgage to finance the purchase.
The process that lenders use to assess your creditworthiness is called underwriting. Your very first. Loan Underwriting Demo - Part 1. Manual and Bulk Loan Application Entry.
Continuing our series on Digital Business Automation and how we can help make a business more efficient and effective, I’m going providing a few articles about a project our team recently put together.
This was a proof of concept (POC) project in the loan industry. You’re working on your mortgage application to secure a loan for your dream home.
|Loan Underwriting Demo - Part 1 – Apex Process Consultants||To the Shareholders of Berkshire Hathaway Inc.:|
Then your loan officer tells you to write a letter of explanation about a few missed credit card payments from several years ago and your brief period of unemployment when your company downsized.
The Georgia Dream Homeownership Program fulfills homeownership dreams by providing affordable mortgage financing for eligible home buyers. If you are interested in purchasing a home through the Georgia Dream Program, click on the "Homebuyers" icon below.
Actual loan offers and loan amounts, terms and annual percentage rates (“APR”) may vary based upon LendingPoint’s proprietary scoring and underwriting system’s review of your credit, financial condition, other factors, and supporting documents or information you provide.
Financing the American Dream begins here, with a number of tools to help you and your borrowers find the right loan at the right price, no pen or paper needed.