Imaging Solutions provides mission critical document imaging systems to Mortgage Lenders Network U.S.A.
Industry:
Financial Services and Banking
Applications:
Mortgage Processing
Company:
Mortgage Lenders Network U.S.A., one of the largest providers of non-conforming mortgage and home equity financing in America.
Challenge:
When Mortgage Lenders Network U.S.A. (MLN) began operations in 1997, their CTO recognized that their business would produce large volumes of paper loan documents and mortgage files. They needed a document imaging platform that would provide the power and flexibility to grow and scale to the business as it grew, and be rapidly deployable to minimize the backlog conversion efforts.
Solution:
Imaging Solutions created a document imaging system that included high-speed scanners and image capture software. The key data needed for future retrieval was manually keyed into the index. Color photographs from property appraisals were manually pulled from the file and scanned separately on a color scanner.
As MLN’s business rapidly grew, Imaging Solutions worked to expand the system with a high-speed color scanner and additional image capture software which eliminated the need to pull the color photos and scan them separately. By introducing a bar code recognition solution, key entry of index data was reduced to a few keystrokes.
Results:
Today, all authorized users in MLN’s 6 offices nationwide have unfettered access to documents where and when they need them. By providing instant access to critical information, the system has delivered these benefits to MLN:
- Loan servicing requests are handled and resolved without a return phone call.
- Credit and collections activities are expedited resulting in improved cash flow and problem resolution.
- In the event of a catastrophic loss, the entire portfolio can be restored because the system is completely backed up and recoverable.
- The file room has been eliminated. Once the documents are scanned they are sent off site and never handled again.
- Labor, real estate and supplies costs associated with traditional filing systems are virtually eliminated.
With the help of Imaging Solutions, Mortgage Lenders Network U.S.A. is able to offer competitive products and outstanding service at a low cost.
For more information about their document imaging and data capture system, contact Imaging Solutions at 203-294-6300 or visit http://www.imagingsolutions.com