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ORIGINATION FULFILLMENT - Retail & Wholesale Origination Services
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Challenge: Inconsistent loan volume can make it difficult for lenders of all sizes to maintain consistent profit margins. Furthermore, hiring full-time specialized staff for each step in the loan processing cycle can be costly, especially during cycle downtimes.
Solution: Lydian Data Services offers outsourced origination, production and fulfillment services that cover every incremental step of the cycle, from file receipt to loan closing to servicing transfer, thereby replacing the need for excess staffing. |
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For decades, lenders have learned the difficult lesson that traditional labor outsourcing can yield limited benefits - and is saddled with risks. That’s why Lydian Data Services has redefined outsourcing by delivering an effective solution that integrates highly skilled mortgage professionals, cutting edge technology-enabled process efficiency and best in class mortgage service providers. Through this approach to outsourcing, lenders have freed themselves from the constant expense and burden of minimizing labor costs, optimizing business processes, and creating and maintaining complex technologies and interfaces.
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For Originators of All Sizes
Lydian Data Services’ fulfillment solutions are engineered to allow clients to efficiently take loans from point of sale submission all the way to servicing transfer, moving from step to step quickly and paperlessly, easily interfacing with investors and service providers encountered along the way. With an unmatched focus on people, processes, technology platform and partners, Lydian takes care of efficiency, enterprise risk management, business connectivity and collaboration, enabling originators of all sizes to confidently outsource any or all of their loan processes.
Lydian offers two fulfillment solutions designed to suit varying needs.
Lydian’s Best Practices Fulfillment Solution provides access to a sophisticated origination platform that can be implemented in as little as 60 days and was previously available only to large companies. Leveraging significant experience in closed loan due diligence and quality assurance, and understanding the typical issues in the loan process that have ultimately created losses for lenders and investors, Lydian has designed a standard set of "best practices" fulfillment processes to mitigate risk, ensure process efficiency and loan quality, and provide seamless connectivity and collaboration to all parties in the loan transaction - all while conducting business at the lowest possible cost. Lydian’s best practices fulfillment solution features a host of leading industry business partners that are seamlessly integrated into Lydian’s platform, covering a range of mortgage services including settlement services, point of sale technology, automated underwriting, loan documentation, compliance, fraud, mortgage insurers, loan servicers and investors.
Lydian’s origination fulfillment solutions can be configured to fit the clients’ needs while maintaining the benefits of outsourcing and standardized best practices. And with Lydian’s skilled mortgage specialists, award-winning platform and vast array of existing vendor relationships, lenders can expect minimal ramp-up time and consistently superior results.
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Solution Components
Collaborative loan origination portal
Lydian provides configurable private-labeled loan origination websites for direct-to-consumer, retail loan officer and call center as well as broker / wholesale business models. These websites are seamlessly linked to the Lydian Exchange Network and fulfillment platform, with files and documents securely accessible 24/7.
Integrated document imaging and virtual loan workflow
Lydian’s completely paperless processing workflow creates an electronic loan folder loaded with transaction documents ready for immediate viewing and use. Lydian’s Mortgage Document Center provides access to a world of electronic document management features and capabilities, with all authorized parties able to collaborate and perform their roles simultaneously, from different locations, without shuffling paper or copying files.
Electronic loan delivery
Lydian’s eFX (Electronic File Exchange) handles incoming electronic images, such as imaged registration packages from brokers and supporting information in a wide variety of formats, and automatically feeds into Lydian’s and image classification technology for identification, data extraction and workflow routing. eFX can also securely deliver loan documents electronically in the native formats required by key secondary market investors, including Fannie Mae and Freddie Mac. eFX is a critical part of Lydian’s Integrated Document and Data Hub, and benefits clients with shorter cycle times, reduced warehouse expense, higher operational efficiency and dramatically improved ROI.
Flexible pre-funding and post closing process solutions
All of the traditional processing, underwriting, closing and funding roles are offered by Lydian, and can be leveraged in combinations that best fit the needs of the originator. Some may want to handle loans up to a certain point themselves, and outsource the rest. Others may elect to have Lydian’s professionals handle all of the roles on the pre-funding side in order to free up people to source new business.
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This is the next generation of business process outsourcing
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