MRG Document Technologies has added a dashboard feature to MIRACLE Online, the company's electronic document preparation and compliance software, that provides detailed visibility into the process workflow of loan originations, refinances and modifications.
Based on workflow criteria provided by the lender or servicer, the dashboard provides real-time visibility to the flow of document creation or the forward movement of multiple events affecting the status of loans. The dashboard and workflow concept gives lenders the ability to automate certain steps that are otherwise handled manually by an individual or team of people, MRG says.
The process workflow is a fully customizable, rules-driven engine with automatic notifications, conditional data analysis, reporting and historical audit tracking. Users can configure the visibility of individual windows of information, known as portlets, in the dashboard and can retain each user's preferences as to the location and order of these portlets to provide a personal dashboard for each user based on his or her role within the organization.
Dashboard features include drill-down functionality, role-based security, user-level filtering and private labeling. Workflow features include parallel processing, automated events created with lender or servicer definitions, data collection screens for manual events and customizable event duration thresholds with notifications.
For example, a servicer working on loan modifications may define that a Home Affordable Modification Program (HAMP) Step 1 package is created for each loan that does not have existing liens attached to it. As loans pass through the workflow, the system automatically orders these document packages once it knows that there are no existing liens.
SOURCE: MRG Document Technologies