Blog | Banking and Financial Services

RPA expedites quality control by 20% for leading mortgage company

Sutherland recently conducted a time in-motion study with a leading mortgage company and expedited processes by 20% through automation.

OCTOBER 19, 2017

In today’s rapidly evolving, customer-driven landscape, mortgage executives need to reduce the cost of operations, expedite processes, and improve the customer experience. While many executives are turning to robotic process automation (RPA) to solve for these complex challenges, others are still pondering how to augment existing processes with this innovative technology.

In the mortgage space, processes well-suited for RPA include:

  • quality loan package review (prior to file going into operations)

  • quality control

  • quality assurance

  • verifications

  • pre-purchase reviews

  • financial comparisons or estimates

Recent Success: Sutherland recently conducted a time in-motion study with a leading mortgage company and expedited processes by 20% through automation. More specifically, Sutherland automated a 300-item checklist used for quality control (QC) after the closing of mortgage loans. Sutherland reviewed the checklist and identified about 60 items, or 20% of tasks to be performed by a robot instead of a human. In the traditional post-close QC process, humans were required to complete all 300 tasks. By reducing the total tasks by 20%, humans could focus more of their time on meaningful work. Throughout the process, if robots encountered tasks more complex than they could handle, humans picked up the tasks and managed them through completion.

Now is the time to drive results for your organization with RPA. Partnering with a provider who has robots on hand and ready to implement will make the process even more seamless and quick to integrate, not to mention the experience and results to prove that they’re ready to partner with you. The right partner will help identify suitable processes for RPA, and will help write the business rules, test and refine the new robots, and ensure that each stage of the process is complete before moving to the next. The increased accuracy provided by RPA leads directly to faster approvals and higher customer satisfaction.

Once implemented, mortgage companies will have the ability to free resources to higher-value work, enabling teams to service more customers, dig into analytics that help drive more informed business decisions, and staff business projects that have been on hold for years due to lack of personnel. Companies can put more resources into understanding customer needs and expectations, which in turn leads to market innovations that produce highly satisfied, loyal customers.

Learn more about RPA as a service for mortgage lenders.

Enhance CX. Drive Growth and Reduce Costs.

Sutherland Editorial


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