MetaSource®, a leading provider of mortgage quality control services and technology, has launched its latest solution for the mortgage industry with software that bridges borrower-friendly loan origination platforms with the back-office loan origination platforms used by lenders.
Symmetri™ is a software integration solution that will streamline the flow of mortgage information that is collected from consumer point of sale (POS) platforms. As a growing number of mortgages originate within these popular and easy-to-use customer interfaces, lenders have been left with a gap that requires time-consuming and clunky manual processes for getting borrower information into their systems.
This new offering will facilitate the transfer of documents between systems and replace the tedious practice of lenders manually re-entering incoming data from borrower facing platforms that do not sync with their loan origination systems (LOS). Now both sides of the loan origination process can leverage the convenience of technology that eliminates the tedious paper-choked processes that create drag and inefficiency.
"Today's borrowers demand ease-of-use, accuracy, transparency and quick response," says Dennis Barrett, MetaSource's Senior Vice President of Digital Transformation Services. “The loan origination process is full of error-prone manual processes behind the scenes that are not scalable. For most, higher loan volume presents serious constraints with the only option being more resources. There's a better way. It is Enterprise Automation with Symmetri.”
Symmetri works by creating a bridge between systems, automatically capturing, classifying and extracting borrower data from POS documents, validating it against a lender’s LOS using defined business rules, and employing robotic process automation (RPA) to streamline a variety of loan set-up and processing tasks, like USPS searches.
Here’s an overview:
- Documents are captured by the borrower facing POS, or from the client LOS
- Symmetri ingests and classifies each document
- Symmetri extracts data from those documents and validates it against data in the lender LOS using defined business rules
- Discrepancies are detected and re-routed for human resolution, when required
- Symmetri releases corrected data to the LOS
- Symmetri initiates robotic process automation (RPA) to streamline tasks that include USPS search, appraisal ordering, NMLS validation, and data extraction and downloads
Once data is validated and tasks are complete, Symmetri can route loans to the next step without human intervention. It’s a frictionless mortgage process that will increase speed to close, improve data accuracy, boost customer satisfaction, and reduce cost to originate in one easy-to-use solution. See a demo of Symmetri here.
Developed to help lenders bridge the mortgage POS platforms borrowers have come to rely on with LOS platforms where documents and data are processed, validated, and stored for execution of underwriting and closing. Symmetri is part of an ongoing commitment by MetaSource to provide solutions for clients in the mortgage industry so they can focus on their business.
MetaSource is a Digital Transformation Solutions provider, focused on Business Process Outsourcing (BPO) / Business Process Management (BPM) services integrated with Enterprise Content Management (ECM), workflow solutions, compliance services and customer experience processes. MetaSource helps its clients manage risk, improve quality, increase efficiency and realize their most important goals – with special expertise serving the mortgage industry. MetaSource's mortgage services include quality control (QC) audits (pre-fund, post-close, servicing, MERS), lien release, whole loan purchase reviews, and cutting-edge technology. MetaSource solutions enable its clients to focus on their core business while MetaSource does the rest.