The Digital Group » Mortgage Filing

Case Study

Client: CT Lien Solutions, formerly UCC Direct

Providing a single processing system for operational tracking, printing, and follow up.

Mortgage Filing:

Mortgage BasicsMany people dream of owning their own home, but the high cost of homes generally requires a home mortgage to make this become a reality.

A mortgage is a loan you obtain to pay for a home and any land it sits on. The home and land is used for collateral on the loan, which means that if you don't make your payments, the lender can take the home away to cover your missed payments.

Business Challenges• Improve operations efficiency by simplifying and combining work steps. • Reduce errors, rework, and costs through automation.

• Improve the quality of product design by focus on simplicity and ease-of-use

• Customer attrition due to dissatisfaction

• Avoid legal ramifications associated with filings not followed up on and subse-quently lost

• Increased costs as a result of additional staff and error rework.

• Cost of processing real property orders remains high – Average processing cost is currently estimated at approxi-mately $3.50 per unit due in part to the large headcount required to perform manual functions. The key to reducing this cost is through automation wherever possible, reducing workflow steps, and careful resource management as was done with UCC filings. • Inability to support signifi-cantly higher volume – Currently the system supports an average of 3K filings per month; major increases in volume are not supportable without significant enhance-ments.

• Opportunity for error at unacceptable levels – Follow up and OOC reports are insufficient, with many tracking functions spread across external utilities, Access databases, and Excel spread-sheets.

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The Digital Group » Mortgage Filing

Case Study

For further information please write to info@thedigitalgroup.com

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• Cost of duplicating processing functionality and support of redundant processes – Many functions now in MDPS such as follow up reports and dispatch functionality already exist in Verifile; however, up to half of the development costs spent on the Visionet product each year are to develop these same capabilities. Examples of this development expense include Integrated FedEx labels and alert functionality will require additional work to provide.

• Reduce development and support costs.

• Difficulty in managing complex interdependent systems – Many of the functions to be provided will require develop-ment both from Visionet and CTLS teams and the resulting functionality must communicate with various external systems such as iLien portfolios, billing tables, JDE/OW interfaces, and printing engines.

T/DG Solutions• Providing a single processing system for operational tracking, printing, and follow up.

• Providing the performance and scale necessary to print and transmit 10K documents each day.

• Expanding routing functional-ity to reduce manual effort and provide a consistent, high quality result.

• Enhancing automated process-ing and tracking functionality to reduce or eliminate opportunities for errors, omissions, and control gaps.

• Reducing support costs by eliminating redundant function-ality wherever possible.

• Automating or expanding services provided by Verifile for UCC filings to include RP workflows regardless of input or fulfilment method.

• Providing ERecordation services for Real Property Filings.

• Providing scanned image of the Recordings with the Jurisdic-tion.

Technologies• .NET 2.0, .Net 3.5, ASP.NET, C#• Web services, Windows Services, AJAX, JavaScript, CSS• Oracle 10G• IIS 6.0• COM, DCOM

Customer Benefits• Increased customer satisfac-tion.• Do not have to learn new system to process Mortgage orders.• Quality of the product will increase along with additional capacity and reduced liability for errors and problems.• Eliminate the need to perform routine functions among multiple systems.• Significantly reduce cost per unit• Increased capacity to ensure at least 5K filings per day• Increased reliability and enhance printing issues by leveraging the ability to print to multiple printers.