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In technology upgrades as in real life, a fresh start can change everything. By deploying innovative new solutions, IT experts can make their businesses run faster, more efficiently, and more profitably. 

But in most technology rollouts, the slate isn’t wiped completely clean. Mortgage companies like yours still have existing technology systems – such as underwriting platforms – that contribute value to the business. And the new solutions must work with those legacy systems efficiently and seamlessly. 

That’s where the right integration strategy can make all the difference.

Choose the right automation solution

Far too many of today’s mortgage industry solutions still rely on manual processes to support mortgage originators, servicers, insurers, and solution providers. It’s impossible to become a truly digital mortgage company without automating most of the processes in your document-driven workflows.

Intelligent automation technology helps mortgage companies mechanize manual document-handling processes and streamline lengthy workflows throughout the mortgage lifecycle. 

Using artificial intelligence (AI) combined with computer vision techniques and machine learning, the technology can recognize and classify mortgage-related documents without human intervention. Advanced solutions can automatically extract data from files, even converting documents and images into structured, actionable intelligence.  

Tackle integration challenges

Yet IT teams often find it difficult to integrate modern automation solutions with their underwriting platforms and other critical IT infrastructure. 

Most legacy underwriting platforms were not designed to be easily integrated with other systems. With these older systems, it can be a struggle to use open APIs to support true bidirectional exchanges of data and documents. Integrating automation technology with legacy solutions so that the two work together seamlessly – in a way that doesn’t make it difficult for users to complete simple tasks – is even harder. 

The workflow processes built into last-generation systems can also add complexity. These solutions can inhibit companies from updating processes or modernizing workflows. Too often teams deploy new technology, only to find that they have to dedicate extra time to update or redesign their entire solution architecture. 

Another issue is that semi-automated solutions tend to require humans in the loop. Whenever people engage with software, you need an effective user interface between the automation solution and the underwriting platform. 

Ensuring that the GUI components of the automation solution are accessible to the underwriting platform is another challenge. Finally, mortgage companies must train their employees to use the automation platform – which is a big effort in the best of circumstances. 

Don’t automate without these capabilities

To ensure that you choose an automation solution that can be integrated into your existing technology stack, it’s important to look for several key capabilities.

REST API – This capability allows you to pass documents to the automation platform. The automation technology can then pass back the document work-product in a modern data type, such as JSON or XML.

Web-based user interface – A web-based UI enables less invasive, much more straightforward integration. You need to install fewer software components and, as a result, there are fewer potential incompatibility issues.

Robotic process automation (RPA) Look for a solution that integrates easily with the RPA technology platform used by your business. This integration allows the RPA solution to share information with the underwriting platform.

Become a business hero with the right integration strategy

By choosing a modern mortgage automation solution – one that includes essential integration capabilities – your IT team can help the business thrive in today’s complex, dynamic market. 

With intelligent mortgage automation technologies, your business can quickly and accurately analyze mortgage and financial documents with minimal to no humans in the loop. Some companies have slashed their average processing time for typical loan packets (of about 350 pages) from more than two hours to less than three minutes. 

Advanced solutions can process more than 90% of documents with no human intervention – and with greater than 99.5% classification accuracy for documents in in-production systems. Accuracy rates for field extraction also top 99.5%. Together, these features boost underwriter productivity by up to 125% in some companies.  

Faster processes, enhanced efficiency, and greater flexibility can add real value to your business. With the right integration strategy, it’s yours for the taking.