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Kofax Launches Mortgage Agility
|By Business Wire
|July 22, 2014 03:00 AM EDT
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
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
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.
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
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