Kofax has introduced Kofax Mortgage Agility, designed to transform and simplify the mortgage application process.

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. 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 dashboards.

Mortgage Agility combines a 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.

“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 .