How Underwriting Became Cool

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How Underwriting Became Cool
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Why should we change underwriting?

• Load balancing
• Resources Anywhere, Anytime
• Controls and Communications

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Competing in the Mortgage Industry
Investor Delivery
Service
Originate
Underwrite
Close
Post-Close

• Sales and Production must differentiate to garner
  more and better loans
• Easier to do business with
• Faster, higher level of turnaround
• Ability to track and manage information via the
  Internet

• Operations must deliver
• higher service with less cost
• Streamline processes to remove points of
  friction
• Manage loan processes with fewer people
• Eliminate costs

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Traditional Loan Origination and Underwriting

• Highly collaborative and highly paper-based and
  inefficient
• Multiple paper copies made by broker
• Difficult to check loan status
• Conditions faxed or over-nighted
• Lots of handling and hand-offs
• Costs
• Overnight/fax charges for submission packages
• Lender handling, sorting and registering

DOCUMENT SUBMISSION
UNDERWRITING
Brokers and Originators
MI and Contract Underwriting
Correspondent and Conduit
Lenders
COPIES, FEDEX, FAX, MAIL, PHONE
Fax
Copier
Retail Branches/LOs
Overnight Express
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Loan Origination and Underwriting The Cool Way
DOCUMENT SUBMISSION
UNDERWRITING
ARCHIVE/AUDIT
INVESTOR DELIVERY
Brokers and Originators
MI and Contract Underwriting
QC and Due Diligence
Lenders
Investors
SUBMISSION
Correspondent and Conduit
TEMPORARY ACCESS
SCAN
FAX
E-SHIPMENT
OR CONNECTOR
CONDITIONS
NOTIFY
Retail Branches/LOs
BlitzDocs Originate
BlitzDocs Post-Close
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A Path to Collaborative Image-Based Underwriting

• Paper -gt Imaging in-house -gt Collaborative
  Networks
• Without multi-party collaboration, any solutions
  that attempt to drive paper out of one part of
  the process will have paper re-emerge in another
  part of the process.
• Enabling end-to-end collaborative underwriting
• Eliminate paper at the beginning of the mortgage
  process origination
• Enable brokers / originators to submit loans
  electronically
• Use electronic images to underwrite loan
• Facilitate two-way, workflow-based communications
  
• Provide access to information with anytime,
  anywhere on-demand web solution for all
  participants
• Eliminate physical paper movement and storage

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Collaborative Loan Folder
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Summary Image-based Underwriting

• Efficiency gains
• Electronically load-balance loans to off-site /
  off-shore underwriting resources
• Immediate deliver and access provides faster
  turn-times
• Simultaneously access of imaged loan folder
  allows for immediate feedback by all parties
  (Broker/LO, AE, Underwriter, etc..)
• Improved communication and accountability
• Streamlined notifications and conditions
• Underwriting Survey Says
• Reduced Calls Per Day - 18.8 -gt 5.8 (69 )
• Streamlined Conditions and Notification Process -
  71 Yes
• Learning Curve - 69 lt 1 week

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Thank you
Greg Smith President/CEO Advectis,
Inc. 678-460-2480 gsmith_at_advectis.com http//www.
advectis.com