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How It Works

Affordable Document Management Solutions:
How The System Works

To help with those daunting ongoing regulatory and compliance mandates, IDT provides credit unitons, mid-market and regional community banks with affordable content management and document imaging solutions that can improve your operational efficiency and regulatory compliance.

The results can be dramatic! Click here for an actual example.


The IDT Loan Processing Solutions Process

Essential to achieving operational efficiency, regulatory compliance and profitability is to reduce the per-unit processing cost for each loan package that is created. IDT provides an end-to-end solution to achieve these desired goals; the strategy consists of these key elements:

  • Remote Branch Capture/Scanning: Scanning documents from remote facilities has two very important benefits: the underwriting process starts much faster, and shipping costs can be eliminated.  Exclusively from IDT, we are offering Epson Workforce DS-530 document scanners with the purchase of CAPSYS CAPTURE ONLINE™ - at no additional charge.  Get the details by clicking here!
  • Electronic Data and Document Capture: Loan documents can originate from a network of independent brokers. Because of their independence, each broker network likely captures its loan origination documents using different technologies and presents content to your institution in many different formats. A Data and Document Transformation Gateway from IDT can normalize all content, regardless of its origination, into a single format that can be efficiently processed by your systems automatically.
  • Workflow: Once loans are received at the central location, Workflow can be used to start the underwriting process. This ensures documents are being handled quickly and consistently, and provides a complete audit trail.
  • Outlook E-Mail Integration: We know you receive an overwhelming amount of your loan processing documents from email.  And, that the email attachment process can be quite atrocious in terms of the varying formats, files types, sizes, etc.  We have solutions to this complicated and time consuming problem and the good news is that it does not require your staff members to be tasked with manually reading/deciphering through thousands of emails, attachments and nor does not require you to print them all out! 
  • Integration with the Loan Origination Software (LOS): To ensure the system is as efficient as possible, it is important to look at integrating your document management system with the existing LOS. This will:
    • Give users access to mortgage documents
    • Allow for a fast transfer of data between systems
    • Ensure that the business rules established in the LOS are being followed
    • Automatic Document Type Classification: Loan files can contain over 175 different document types. This solution allows you to use software to separate 300 to 500 page loan files into their individual document types with little human intervention.   
    • Automatic Index Extraction: Automatically extract data from the loan documents to populate data into the bank's LOS.
      • Reporting: Allow users to track where loans are in the process, what documentation is missing, and who is working on it at that exact time.
      • Long-term Archival of Documents: Permanently store the loan documents in a centralized location with access to a full audit trail of each stage of the loan's life.
      • Outbound Formatting and Submission to Fannie Mae, Freddie Mac or other Loan Investors: IDT can help your banking institution develop efficient processes and methodologies to deal with the sale or disposal of loan packages to third parties.