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iMP
The Intelligent Mortgage Platform® (iMP)
Disrupting a labor-driven industry entrenched in fragmented
systems & heavy regulations with a single platform that
empowers consumers, drives down costs, and automates the
loan process.
Key Points:
Automate over 70% of the entire loan
process – not just labor costs
iMP, not people, drives workflow
Have a guaranteed approval on a loan
within minutes of applying
Replace massive human error with tech
driven completely by data, not images
Empower consumers to drive the loan.
Tech when they need it, people when
they don’t
Give consumers a single platform to
shop for a loan, shop for a home, apply,
and interact even on a tablet/mobile
1000’s of rules driven from 5,000 data
points operating throughout the loan
process
Full Mobile experience, what can you
afford, shop for rates and search for
homes.
Automate entire disclosure process.
Great UI written in cloud-based Angular
Gamify the loan process
Service Oriented Architecture (SOA)
integrating best of breed vendors
creating one great experience for users.
Each loan is driven by a characteristic
score and a pre-determined # of tasks
needed to complete
Reduce closing a loan from 4-6 weeks to
days
The Mortgage Industry is out of control
Since the 2008 collapse, the mortgage industry has been in
disarray. From the lenders standpoint, out-of-date processes
and systems have caused production expenses to increase by
175%. Closing a loan has taken more time and become more
difficult than at any point in the past 30 years.
Consumers are feeling the pain and frustration because of
inconsistencies in the loan process. Items that have been
overlooked by a lender for weeks and even months are now
being required at the last minute. These “surprises” can
jeopardize the deal and cause undue anxiety for a new home
buyer thinking this loan can fall through and crushing the
excitement of home ownership.
Getting a home loan should not be that difficult. Given that we
sell loans to the same institutions (GSE’s & big banks), a
consumer should have a consistent experience from the
industry no matter what lender they choose. The problem is the
mortgage industry has been trapped in a LOS centric (Loan
Origination System) model where lenders rely on paper and
people’s own discretion rather than raw data and technology to
drive the loan process. A new cloud-based infrastructure must
be built that shelves the antiquated LOS model and replaces it
with a single platform where rules around data, not people,
drive the entire loan process and where consumers can have a
transparent experience on any device 7/24.
iMP
A New Solution
The intelligent Mortgage Platform® (iMP) came about in a unique
fashion. Being built and capitalized within a top 30 lender has
allowed for unparalleled access to the true problems of what
happens inside a typical lender and what is actually needed to get
a loan closed faster & cheaper. The technology itself uses a
Canonical Data Model and robust Business Rules Management
System (BRMS) and Business Process Management (BPM) to
drive rules around data that comes in from the various vendors
and documents that are part of closing a loan – all elements
absent in an LOS-centric infrastructure.
There is no fragmentation and no need for a user to go outside of
the system due the deep integrations with best-of-breed vendor
partners. The biggest difference in the iMP versus a typical LOS is
data. Most LOS’s have vendor integrations however those
integrations result in images/PDF’s coming back, not data. This
poses a major inconsistency problem in processing a loan
because a lender must rely on people to look at images and make
decisions on a course of action. In addition, a human-
orchestrated process rather than a data-driven process results in
undocumented and unsanctioned manual workarounds which
cannot be measured.
The old way The new way
iMP
An Intelligent Task-Driven Workflow
More than just a robust architectural platform, the iMP is solving
the lending industries problems by building a task-driven
intelligent workflow. In order to automate over 70% of the
process, we needed to get into the granularity of all the possible
outcomes for every step in a loan cycle. For example, what is the
course of action if an appraisal doesn’t come in at the value
expected? What happens if the borrower purchases a new item
that appears on his credit report right before the loan closes or he
wants to get more cash out? What about when a background
search shows he owns other properties not accounted for?
By defining every step of the loan process as a task and giving
each loan a score based on its characteristics, our BPM engine
can now accurately know exactly how many tasks it takes to
complete a loan, handle those tasks that should be automated,
determine how long each task should take to complete and when
to push a task to a person (ex: call State Farm to get an updated
Homeowner policy with a new Loss Payee).
Key Benefits
Building a Canonical data-driven platform, coupled with defining
the tasks associated with every loan scenario, the iMP delivers
many key benefits for consumers and the lending industry.
Minimizes human work orchestration & maximizes automated
work orchestration
Greatly reduces closing times
Provides for unparalleled loan decisioning capabilities within
minutes of applying
Increases profitability by eliminating redundant processing
steps & manual components
Breaks dependency on the expensive hire/fire model of dealing
with industry cyclicality.
Empowers consumers with a more transparent/pro-active
experience of the whole process & minimizes surprises
Reduces confusion by having title/escrow, borrower, realtor and
lender communicate in the same system
Automates compliance requirements by issuing state and
federal required initial/subsequent disclosures throughout the
loan cycle
Learn More
To learn more about the intelligent
Mortgage Platform®, contact us at
818-657-2240 or
“The first rule of any
technology used in a
business is that automation
applied to an efficient
operation will magnify
efficiency. The second is
that automation applied to
an inefficient operation will
magnify the inefficiency.”
-Bill Gates