Situation Assessment
The client, a mortgage lending bank, needed to give their business a competitive advantage over hundreds of other mortgage lenders competing for the same business. They realized that mortgage loans and related services had become commoditized in nature and in order to stay competitive and remain profitable, they would have to overhaul their entire loan origination process into a paperless, seamless workflow enabled process.

Solution Overview
Risetime helped the client to streamline their paper-laden, time consuming loan origination process by developing several major new capabilities to enhance their existing system and shorten the workflow. These enhancements not only simplified the process and increased loan volumes, but also helped address critical industry issues such as cost reduction, compliance, fraud prevention and security.

Risetime leveraged its extensive experience in loan origination processing and technology systems integration to develop these enhancements:

• Validation and Pricing Engines - The validation component drastically reduced the number of loans accepted with incomplete or incorrect information and the pricing engine automated complex loan pricing calculations.

• Content Management System - The CMS used customizable business rules to automatically route electronic loan files along the origination process.

• Work Queues - This component allows users to check the status of a loan and view its status in the process, and if the application is awaiting any reviews or approvals.

• Business Process Management - This layer was flexible enough to provide reporting functionality on any information collected during loan origination processing.