Titan Selects Top Image Systems’ eFLOW To Automate Loan Package Processing

Posted by Patrick Barnard on May 13, 2015 No Comments
Categories : Residential Mortgage

Titan Lenders Corp., a Denver-based mortgage fulfillment outsource services provider, has selected the eFLOW Digital Mailroom from Top Image Systems Ltd., a provider of intelligent content processing systems, to automate its mortgage loan package processing.

According to the companies' press release, eFLOW Lending will help lenders to improve processes and operation efficiency; meet and improve regulatory obligations and compliance; and reduce the overall time spent on loan document compliance.

eFLOW checks all incoming documents by applying machine learning algorithms to classify the document type. A PDF is created for each loan package and is then bookmarked for the specified customer in order to accurately track the status of the component forms, as well as the trailing documents.

Previously, Titan had to manually review and classify the documents and images it received for each loan package to check for missing or incorrect entries and signatures – an error-prone, tedious and time-consuming process. The complex relationships between customers and different forms used by different parties complicated the tasks even further, according to Titan.

Top Image Systems was selected following a strict four-month-long request for proposals process and a ‘proof of concept’ demonstration to prove its ability to meet Titan's requirements.

‘Titan expects eFLOW's functionality to execute rapid, accurate data recognition and classification for extremely high volumes of complex, varied types of documents to significantly increase productivity and – more importantly – expand production efficiency and overall loan fulfillment capacity,’ says Mary Kladde, CEO of Titan Lenders Corp.

‘eFLOW will significantly improve and increase visibility and the transparency of loan-level document data. It will also help Titan comply with increasingly demanding industry regulations and standards,’ she adds.

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