EDISON, New Jersey, August 9, 2021 / PRNewswire / – Arc Home LLC (Arc Home) and Indecomm Global Services announced the successful implementation of Indecomm’s BotGenius ™ suite of automation solutions. BotGenius ™ is a collection of pre-built software robots to emulate human-machine interaction for specific and standardized middle office tasks, processes and workflows in the mortgage industry.
Most of the time and expense in the mortgage creation process is processing and underwriting, or the middle office. These stages of the mortgage process have the greatest impact on the borrower’s experience and have seen the least impactful automation options. While the middle office is the most difficult part of the mortgage life cycle to automate, it is the lending stage that offers mortgage lenders the greatest opportunity to become more efficient.
Indecomm’s automation solutions have been carefully designed with the entire mortgage life cycle in mind. By employing robots, or “digital workers,” BotGenius ™ automates inefficient processes, improves the overall borrower experience and rapidly increases return on investment, with estimated savings of 40-60% for processes available to the borrower. ‘automating. This out-of-the-box mortgage industry-specific robotic process automation (RPA) solution has the potential to automate over 70% of the tasks of the mortgage production process.
A national lender and a leader in providing agencyless mortgage solutions to borrowers, brokers and correspondent lenders, Arc Home puts the customer experience first and part of that experience depends on efficient processes. Arc Home has chosen to use BotGenius ™ to automate various manual tasks, including ordering and reviewing flood and fraud controls, reviewing assessments, validating the completion of compliance tests (such as than QM test and NY Subprime test), checking borrower signatures on LEs and CDs, ordering and retrieving collateral office ratings, verifying loan programs with the automated underwriting system ( AUS) is running to ensure commercialization, and has identified many other manual and tedious tasks in the pipeline to automate.
“With the high demand for processors and underwriters, mortgage lenders are constantly looking for ways to automate the tasks currently performed by their highly paid employees,” said Rajan nair, CEO, Indecomm Global Services. “Cost savings are being realized through process automation with products like BotGenius ™ that allow ‘digital workers’ to perform repetitive, high-volume work, while employees are free to examine more. of loans. BotGenius ™ enables mortgage lenders to realize their return on investment. fast investment and allows them to scale quickly in a market with limited capacity. ”
“After implementing Indecomm’s BotGenius ™ less than six months ago, Arc Home has automated over 100,000 minutes of manual, repetitive and time-consuming tasks, freeing up that ability for our team members to complete a job. judgment-oriented and helping our brokers and borrowers close loans faster, ”said Richard bradfield, Managing Director of Arc Home.
BotGenius ™ bots are configured for a variety of mortgage workflows and automate repeatable and bulky middle-office tasks like ordering 3rd party services, combined with report reviews (eg flood, fraud, credit, appraisal, etc.), validation and generation of disclosures and adverse action communication. To learn more about Indecomm’s BotGenius ™ solutions and how you can automate your middle office mortgage workflows, visit the company’s website at https://botgenius.net.
Founded over 25 years ago, Indecomm Global Services is a leading provider of business technology and services to the US mortgage industry. The company is headquartered in New Jersey with more than 1,200 employees worldwide. Indecomm’s services and solutions support every stage of the mortgage lifecycle with automation and software, outsourcing and project management, as well as compliance and training. By focusing on technology solutions first, we partner with large and mid-sized lenders, services, mortgage insurers and securities companies to achieve one specific goal: to help them grow. Our longevity in the ever-changing mortgage industry is our strength. We have worked diligently in the outsourcing and consulting spaces to develop tools and resources using detailed feedback from clients and internal associates. Visit us at https://www.indecomm.com.
Press contact: Krista K. Sabol
Marketing Director, Indecomm
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SOURCE Indecomm Global Services