With loan application volumes increasing, navigating the complex and often manual steps in the mortgage process can be quite the headache for loan officers. From collecting, reviewing, and verifying documents, to juggling information between multiple systems, there’s ample opportunity for errors and slowdowns. But with mortgage processing automation, there’s a better, smarter way to shepherd the lending process and do away with tedious manual steps.
Lending institutions using the Blend application are already one step closer to streamlined mortgage processing. But combined with the power of robotic process automation (RPA), they can automate the mortgage application process by routing forms and data automatically to reduce the complexity, practically eliminate the potential for errors, and ensure customer satisfaction. Here’s how Blend users can leverage RPA from Automate to achieve a smooth mortgage origination process:
Key Areas Automate is Used in Mortgage Processing with Blend
Many financial institutions still rely on legacy applications and systems for mortgage processing. While Blend has direct integrations with many newer loan origination systems (LOS), Automate is able to bridge the gap between Blend and your legacy LOS to enhance its value. RPA works via API to automate the download of completed applications and documents from Blend, then uploads them directly into the LOS without any manual intervention. And for certain systems without API connections—like Mortgage Cadence and MortgageBot—Automate is able to input or grab the necessary data via user interfaces like web portals and desktop applications.
The powerful connection between Automate and Blend helps keep the mortgage process running smoothly in other ways as well. For example, when new documents arrive in Blend for loans that have already been exported to the LOS, Automate bots ensure that the most accurate, up-to-date information gets to where it needs to go. And automation doesn’t just make the mortgage process smoother for loan officers, but also, applicants. Automate facilitates a better customer experience by enabling applicants the ability to work solely in the Blend interface instead of also having to complete steps like E-Consent and importing credit reference numbers in the LOS interface.
Automate & Blend Partnership
The partnership between Automate and Blend extends beyond just integrating software solutions. We know that cultivating relationships and transferring knowledge is the key to your success. Automate works with Blend to provide lending institutions a turnkey solution by including a professional services engagement with enough time to get the solution up and running—including reporting on what loan officers should expect in their pipeline.
Meet the Blend Bots Available in The Automate Bot Store
Another great way to increase the ROI of mortgage processing automation is with the Automate Bot Store. The Bot Store provides pre-built bots that interpret and execute tasks for users, allowing them to get up and running quickly with their automation projects with no code. We have several Blend-specific bots in addition to hundreds of free connector bots for automating common tasks involving everything from Microsoft applications, FTP, and more. Take a closer look at our hard-working Blend Bots:
Integrating Blend to Mortgage Cadence or MortgageBot
Through an API and GUI automation, this solution bot gathers and downloads the mortgage application data and extra documentation from Blend and then creates the loan into Mortgage Cadence or MortgageBot.
- Application Archival in Blend
Managing and maintaining an accurate pipeline is an integral part of mortgage origination. This solution bot eliminates the need for users to log into Blend and manually archive loans in their pipeline, removing one more manual task from the mortgage origination process.
- Blend Document Retrieval
This free bot retrieves applications directly from Blend and then uses the information to download documents associated with each application such as: Fannie Mae docs, compliance reports, HDMA reports, bank statements, and more.
Discover More Ways RPA Can Benefit Your Financial Institution
Take a closer look at how RPA can transform processes and streamline high-volume tasks at your bank, credit union, or financial institution.