Loan origination is wrought with manual processes that require human touch to move loans forward, which increases the risk of error. Additionally, the typical mortgage origination process can take anywhere between 30 to 60 days or more as each loan passes through several different processes, professionals and functional areas.
With the increasingly competitive landscape and evolving borrower expectations, lenders are shifting to digital loan experiences that reduce the need for manual intervention to drive greater accuracy and faster lending decisions.
HPA helps clients reduce risk and streamline the mortgage process. Bringing over 12 years of deep automation experience into its comprehensive suite of solutions and methodologies, along with decades of mortgage operations expertise, HPA’s programs scale and deliver value back to lenders.
With HPA, lenders can automate 85% of the loan cycle process, saving time and money, to focus more on customers, loan officer retention, and scaling their business. They can also keep operating costs at 33% below the industry average, reduce average loan closing time by 20 days and provide on-time closing guarantees to borrowers.
One mid-sized lender saved over 525,000 hours of stall time across the loan application operation in one year – now, their overall time from application to close consistently beats the industry average by 30%.
HPA has pre-built integrations with leading loan origination, risk management, loan pricing, servicing, analytics and informatics providers, as well as document custody, optical character recognition, and third-party portals. With this ecosystem, HPA is able to help lenders reduce risk and realize the maximum value Robotic Process Automation has to offer.
Whether automating initial disclosures, loan setup, service ordering, lock desk, investor stipulations, or countless other steps, HPA’s unique approach comprises an integrated suite of intelligent automation solutions designed to deliver secure, scalable services throughout the mortgage lifecycle, including:
- HPA Capture, which records process documentation and creates an output file that structures the process for quick verification.
- HPA Core, which operates within the client environment to execute all automation work. A powerful automation Robotic Command Center seamlessly orchestrates all components and robots.
- HPA robots, powered by extensible Application Robotic Interfaces (ARIs) to centralize application-specific robotic logic.
- HPA’s Intelligent Infrastructure, which optimizes robot infrastructure consumption by dynamically adjusting computing resources to the volume of work.
- HPA’s client-facing Service Portal, which gives clients greater control and visibility into their automation initiative, offering a robot marketplace, price quote functionality, online ticketing and a robot analytics dashboard.
HPA is the leading RPA-as-a-Service provider for mortgage lenders seeking secure, reliable intelligent automation solutions.
For more information, please visit hpa.services.
Product Snapshot: With over 12 years of Robotic Process Automation experience, HPA, A Cognizant Company (HPA), supports an integrated suite of intelligent automation solutions to deliver secure programs that accelerate ROI.