Kofax Launches Mortgage Agility
July 22 2014 - 3:00AM
Business Wire
Solution Radically Transforms and Simplifies
the First Mile of the Mortgage Application Process
Kofax® Limited (NASDAQ: KFX) (LSE: KFX), a leading provider of
smart process applications for the business critical First Mile™ of
customer interactions, today introduced Kofax Mortgage Agility™, a
solution designed to radically transform and simplify the mortgage
application process.
Mortgage Agility streamlines the critical initial steps in the
mortgage lending process by enabling applicants to use any channel,
including mobile devices, internet portals, email, fax and paper,
to submit mortgage application information. The solution then
extracts the business critical content, uses business rules to
check for missing or inconsistent information and enables
collaborative communications between the applicant and lender to
capture trailing documents and resolve exceptions. It then
leverages defined workflows, business rules, compliance
requirements and due dates to assemble a complete mortgage
application package for entry into loan origination systems,
including Ellie Mae Encompass 360. It can also connect to third
party software applications or web sites to, for example, verify
applicant information, order credit or appraisal reports and other
purposes. All of this is accomplished while keeping the applicant
informed about the status of their application and providing lender
management visibility into the loan process and loan officer
performance via near real time interactive dashboards.
Mortgage Agility combines a robust set of multichannel capture,
business process management, mobile, analytics and data integration
capabilities on a single platform to provide a less frustrating and
more convenient customer experience for applicants, and helps
lenders close more quality loans faster and at a lower cost.
Waterstone Mortgage Corporation, a Milwaukee based lender that
originated more than $1.8 billion in loans during 2013, is an early
adopter of Mortgage Agility. As a member of Kofax’s new Lighthouse
Account Program, industry leaders like Waterstone help shape the
requirements of new smart process applications such as Mortgage
Agility.
Eric Egenhoefer, President and Chief Executive Officer of
Waterstone Mortgage, commented, “Kofax’s solutions are extremely
intelligent and will be instrumental in delivering a new wave of
business-critical information to the all-important First Mile of
decision making. Until now, this technology didn’t exist for
lenders. It’s a game changer for our business, because it will
enable us to engage better with our borrowers, increase operational
efficiencies, save time, boost productivity, minimize costs and
identify opportunities for improvements and increased
revenues.”
“Lenders are examining all phases of their mortgage loan process
to better serve customers, gain efficiencies, improve quality and
comply with new regulations,” said Grant Johnson, Chief Marketing
Officer at Kofax. “By getting the application data right in the
First Mile of the process, there is a bigger payoff for both the
borrower and the lender.”
To learn more about Mortgage Agility click here, and to learn
how mortgage lenders can benefit from this solution, download the
white paper, In Pursuit of a Paperless Mortgage Process, here.
About Kofax
Kofax is a leading provider of smart process applications for
the business critical First Mile of customer interactions. These
begin with an organization’s systems of engagement, which generate
real time, information intensive communications from customers, and
provide an essential connection to their systems of record, which
are typically large scale, rigid enterprise applications and
repositories not easily adapted to more contemporary technology.
Success in the First Mile can dramatically improve an
organization’s customer experience and greatly reduce operating
costs, thus driving increased competitiveness, growth and
profitability. Kofax software and solutions provide a rapid return
on investment to more than 20,000 customers in financial services,
insurance, government, healthcare, business process outsourcing and
other markets. Kofax delivers these through its own sales and
service organization, and a global network of more than 800
authorized partners in more than 75 countries throughout the
Americas, EMEA and Asia Pacific. For more information, visit
kofax.com.
© 2014 Kofax Limited. Kofax is registered trademark and First
Mile and Kofax Mortgage Agility are trademarks of Kofax Limited.
All other registered trademarks and trademarks are the property of
their respective owners.
Source: Kofax
Media:KofaxColleen Edwards, +1-949-783-1582Vice
President, Corporate Communicationscolleen.edwards@kofax.com
orInvestors:MKR Group Inc.Todd Kehrli,
+1-323-468-2300kfx@mkr-group.comorFTI ConsultingSophie McMillan,
+44 (0) 20 7831 3113kofax@fticonsulting.com
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