Whether you are a mortgage bank, wholesale bank, or service provider, the need to automate the classification and extraction of loan documents is clear.
Boulder, CO (PRWEB) April 21, 2016
Zia Consulting, Inc., the leading provider of Enterprise Content Management (ECM) and Intelligent Document Capture business solutions, will be hosting a 60-minute webinar, “The Post TRID World...What Next?,” featuring special guest, Stan Pachura, former CIO of National Mortgage Insurance (NMI). During the event, he will discuss the state of the industry and solutions to address increasing costs. Stan will specifically discuss how automating the processing of loan documents can reduce or even remove the additional costs associated with the move to TRID.
With the introduction of the Consumer Financial Protection Bureau’s TRID six months ago, the mortgage industry now has a clear look at the results of its implementation. A recent article on housingwire.com points to a 60% decrease in net gain on loans originated by independent mortgage banks and mortgage bank subsidiaries since the implementation of the TILA-RESPA Integrated Disclosures rule. According to the study, total production expenses per loan grew to $7,747—an increase of nearly 10% in a single quarter—primarily due to a rise in personnel expenses.
The webinar will highlight how automating the processing of loan documents can reduce or even remove the additional costs associated with the move to TRID. It will also include a demonstration and discussion of Zia’s Advanced Closing Extraction (ACE) mortgage accelerator for Ephesoft. This solution aids companies by:
Decreasing employee hours spent on processing through automated document classification, data extraction, and information validation
Enhancing the customer experience with easy-to-implement exception handling and time-saving shortcuts
Introducing process improvements based on detailed analytics and reporting capabilities
Enabling rapid document viewing with Snowbound software, a leader in the mortgage industry
According to Phil Robinson, SVP at Zia Consulting, “Whether you are a mortgage bank, wholesale bank, or service provider, the need to automate the classification and extraction of loan documents is clear. We’re hosting this webinar to help companies navigate the changes seen from TRID through expertise, examples, and customer success stories.”
To register for this free webinar on May 3, 2016, at 11 a.m. MT, visit https://attendee.gotowebinar.com/register/3766947001878731012
Zia Consulting delivers Enterprise Content Management (ECM) solutions that address the content chaos needs of your enterprise to better manage and secure important documents. Our solutions are utilized by leading organizations and tackle the key issues of ECM user adoption, the need for lower total cost of ownership, and a desire for ECM modernization. We bring start-to-finish guidance and customization based on your organization’s needs, working closely with your team to enable you to be self-sufficient.