90% Reduction in average handling time.
600-700% increase in loan processing capacity.
100% data accuracy across processes.
100% elimination of key‑in errors.
Allied Mortgage Group, a full-service residential lender originating about a $1 billion a year, was having serious efficiency issues. Their closing process was highly manual and exceedingly time-consuming. These manual processes led to error-prone processing of loan documents.
To address these issues, Allied partnered with Gateless to implement a front-end process in which closing package documents are scanned to generate a pdf that is automatically placed onto the server and picked up by AI Mortgages (AIM). AIM automatically locates the loan number on the documents, validates the loan within Encompass, associates the incoming documents to that loan, indexes and classifies the documents, and returns them in the appropriate eFolders in Encompass.
Additionally, AI Mortgages automatically monitors for other trailing docs or missing package docs directly from Encompass, processes, classifies and indexes the documents, and files them back into the correct Encompass eFolders.
SVP Operations, Allied Mortgage Group
The new system has had a materially positive impact on Allied's business in numerous ways. One staffer can now complete the document review process, minus handling, of 30-35 loans in just 30 minutes. Classification and filing is now 99% accurate. And by reducing the amount of manpower needed for these manual tasks, processors have been redeployed to much more challenging and rewarding roles. In addition, the system saves Allied $126K a year in post-closing costs alone.
"For Allied Mortgage, the results have been impressive," says Kyle Manseau, Allied's SVP of operations. "Since implementation, they have run more than three thousand loans off the system. Without artificial intelligence, it would have taken between 650-700 hours to do what we're now doing in 25 man hours. That's huge for an organization of our size."