Cloud Based Case Management System
The US mortgage industry is growing in a highly regulated environment. The financial crisis of 2008 brought into existence the Dodd Frank Act on consumer protection. But for lenders, the RESPA-TILA and most recently, the Know before You Owe regulation, are pushing up loan origination costs. Compliance and customer protection are affecting lenders’ overheads and involves volumes of documentation. An efficient case management + CRM system helps in delivering customer-centric services at all levels of mortgage servicing and loan origination.
A cloud-based case management system streamlines the documentation process by effective capture and collation of data. Documentation is automated and archived. Organizations have shifted from traditional, office-specific case management systems to secure cloud systems for easy access and high productivity.
Anytime, anywhere access
The latest web-based systems help in connecting partners and employees irrespective of geographical boundaries. Browser-based user-friendly interfaces enable multiple users to access the system at any time to create new queries, edit cases, assign tasks, generate quotes, and build reports. Real-time access helps users to access client information on the go, even during customer interactions and judicial queries. Digitally archived case histories can be produced instantly through mobile devices any place, any time.
Case management to increase efficiencies
Automation streamlines documentation and workflow. This helps to complete tasks on time and avoid processing delays. The mortgage process is highly document centric and requires capture of case-related documents like letters, emails, telephone conversations, social media captures and so on. The cloud-based case management software with document scanning, email archiving, and image capture, facilities an efficient workflow.

All inbound and outbound documents including multimedia files are available for reference as the case is processed. This leaves a clear audit trail so that the staff and managers can have a complete view of the case history of a client. The case status, bottlenecks encountered, decisions taken, and resolutions to be made can be accessed all at once to ensure faster problem solving. This increases productivity of lenders and provides a complete picture for decision making. The process also reduces errors and increases efficiencies to achieve economies of scale.
Increased compliance with control
Mortgage servicing and loan origination requires a high degree of accountability and compliance. The Dodd Frank Act mandated specific regulatory measures to protect consumers. Lenders have new compliance and regulatory requirements which increase costs. The cloud-based system helps in adapting to constantly changing regulations without any major software changes. The reporting tools and audit trails constantly monitor compliance and reflag variations. This increases transparency, which helps personnel to identify opportunities for improving customer experience.
Ease of integration
Cloud-based case management platforms can easily integrate with existing technology and software. It does not require major investments in new hardware and network infrastructure. Some case management systems have plug-and-play features, which do not compromise on the technology features. A cloud-based system can be configured as an easy-to-use platform via any channel that suits specific client needs.
Lenders must ensure that files are stored on certified and secure platforms. The immediate concerns are data breaches and many technology providers do deliver data encryption along with intrusion-detection and prevention systems.
Cloud-based case management systems leverage technology to manage individual cases as efficiently as possible. It makes mortgage servicing and loan origination extremely customer driven, as documentation and workflow get streamlined. Easy access to information helps companies strike a balance between reducing costs and improving services quality.
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