Product Nautilus Enterprise Content Management for Paperless Lending Opening the Door to Paperless Loan Processing
Product for Paperless Lending from Fiserv helps lenders save time and money and streamlines their processes by digitizing, standardizing and automating the entire loan process. Moving Toward a Paperless Process Many steps are necessary to enable the vision of a paperless loan. Integral steps in that process are upfront imaging, keeping electronic documents electronic and converting paper documents into electronic format. By doing so, and with support of document standards and specifications driven by the Mortgage Industry Standards Maintenance Organization, the lending industry is quickly moving toward a completely paperless environment. But how do mortgage lenders enable the paperless loan process today? Organizations use Nautilus Enterprise Content Management to optimize the flow of electronic documents and to streamline the full range of mortgage operations, including: Origination Underwriting Post-closing, audit and quality control Servicing Investor delivery Retention management Helping Lenders Save Time and Money Business process automation is vital to operational efficiency. By standardizing document management process flows and eliminating paper across your organization when it arrives, significant cost savings and risk mitigation can be achieved. For example, on average, it is estimated that employees spend hours of non-value-added time in each paper-based loan file during the origination process. Imagine the impact of time and cost savings to the process once you go paperless! can be deployed to meet an institution s specific loan processing requirements now... and into the future. Its open architecture enables seamless integration with Lending Solutions from Fiserv, third-party lending software, as well as other applications (for example, accounting and human resources) to leverage their capabilities and existing technology investments. Origination provides several mechanisms for capturing, indexing and storing any type of document format paper, e-mail and attachments, fax, PDF, PCR, XML, word-processed documents, text reports, as well as SMART documents. Nautilus electronically captures prior to printing or converts paper documents (for example, loan applications, Good Faith Estimates, employment forms, pay stubs, W-2s, bank statements and TIL Disclosures) to digital images that are then securely stored in Nautilus Enterprise Content Management for future retrievals and further processing. Fiserv provides tools to image-enable any line of business loan origination system (LOS), so that documents can be accessed from a variety of lending-related systems screens. Once the application is 1
Modules for Mortgage Lending Nautilus optimizes the flow of electronic documents and streamlines the full range of mortgage operations. in the system, Nautilus Enterprise Content Management verify that documents and associated data are complete and automatically routes the loan application and supporting documents to the underwriter. Underwriting Once in the system, underwriters have immediate access to all loan documents. All property and borrower documents can be stored in an electronic loan folder, providing the underwriter with all of the necessary information as a package and therefore enabling better, more accurate decisions. Nautilus Enterprise Content Management: Workflow form Fiserv automates the review and routing of completed loan documents to determine risk and expedite the loan closing process. Provisions or stipulations are automatically routed to a designated worker and an e-mail notification is sent indicating that special attention is required. Post-Closing, Audit and Quality Control enforces an institution s procedures and policies by ensuring all documents have been prepared completely and accurately and that compliance standards are always met. Nautilus Enterprise Content Management includes timers lending automation component includes timers to guarantee promptness to complete the closing process. Once closed, all remaining documents (for example, the Note, Deed, HUD-1, Title Insurance and Hazard Insurance) are captured and stored for long-term archival, while all trailing documents are tracked and managed for timeliness and content. In addition, the Nautilus AutoApps : Closed Loan File Update from Fiserv functionality dynamically manages the retention and disposition of the loan once it is sold, service-released, and/or paid-off. Servicing A single, easy-to-use interface provides access to all relevant loan portfolio documents, improving the loan administrator productivity and overall customer service. A customer service representative can now provide immediate updates to customers and investors regarding the status of an application or loan portfolio at any point in the loan process directly through LoanServ from Fiserv. Since Nautilus Enterprise Content Management provides simultaneous viewing of documents (even while in the work process), there is no longer the need to manually look for the document in question. The customer service representative can fax, e-mail or print a document or an entire portfolio directly from the desktop. Investor Delivery simplifies the shipping and delivery process by providing secure, immediate online access to loan documentation for review by potential investors. Once funding is secured, Nautilus Enterprise Content Management makes certain that commitments made to investors are fulfilled 2
within specified deadlines. Contractual agreements and communications between the shipper and the investor are captured and properly managed within the system. Our client interface facilitates the preparation and delivery of loan documents to an investor or auditor by providing the shipper with access to all related loan documents. The loan export utility automatically sorts and prints loan files in the order the investor prefers. It can be configured to enable electronic delivery of a loan file by publishing loan documents to CD, DVD or to a secure FTP site by generating an electronic file containing the loan documents for export to the investor or auditor. A browser-based interface that allows easy access to electronic loan documents to anyone, anytime, anywhere via the Web. The interface provides thinclient Internet/intranet access to loan documents via standard Web browsers including Microsoft Internet Explorer. Ingestion tools provide high speed imports of most document file formats provided by third-party systems. Organizations can leverage a new or existing RightFax Enterprise Fax system to automatically ingest electronically incoming and outgoing faxes into Nautilus Enterprise Content Management archive. Scan, index and store loan documents as digital images from MFD, scanners and other capture devices. In addition, Nautilus Enterprise Content Management integrates with third-party OCR technologies to automate the document classification process to further streamline the capture process. E-mail integration provides a simple method for ad hoc storage of e-mails and attachments to Nautilus Enterprise Content Management, while also providing document retrieval from the familiarity of the standard Microsoft Outlook or Lotus Notes e-mail client interface. Automation components automatically route loan documents and work in accordance with defined business processes. Features include graphical configuration, alternate routing logic, automatic criteria calculation, simultaneous notification, load balancing, reporting, ad hoc routing and VB exits. Electronic loan folders allow users to view and organize documents electronically, as they would with a folder of paper documents, although with added benefits and security. Folder structures are dynamically created and populated based on business requirements and the interface will automatically display documents that are missing as part of the defined folder structure. Fiserv delivers the tools you need to enhance your lending practices through significant time savings, reduced document storage costs, accelerated lending processes and improved customer service. 3
An Integrated Solution Put the power of Fiserv integration to work for you. Nautilus Enterprise Content Management integrates with Lending Solutions from Fiserv to create an unbeatable combination of functionality and productivity. We deliver the tools you need to enhance your lending practices through significant time savings, reduced document storage costs, accelerated lending processes and improved customer service. provides technology solutions to aid financial institutions with enhanced operational efficiency throughout the entire organization. Our professional staff possesses decades of experience in the industries we serve making our products and services uniquely applicable to the needs of our clients and partners. Key Benefits for Lenders Enables seamless integration with loan origination and servicing solutions from Fiserv Streamlines the review and routing of loan documents Provides instant, secure access to all loan documents and data Reduces administrative operating expenses Ensures loan processes are manageable and measurable Expedites loan closing and funding Improves customer service Offers quality control and audit business process automation Connect With Us For more information on Nautilus Enterprise Content Management for Paperless Lending, please contact us at 800-872-7882 or visit www.fiserv.com. 4
About Fiserv Fiserv is driving innovation in Payments, Processing Services, Risk & Compliance, Customer & Channel Management and Insights & Optimization, and leading the transformation of financial services technology to help our clients change the way financial services are delivered. Visit www.fiserv.com for a look at what s next, right now.
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