Why Automate Workflows?
Automation in lending can reduce manual effort by up to 40%, improve accuracy, ensure compliance, and enhance customer experience. By automating repetitive tasks, lenders can focus on high-value activities and deliver faster, more reliable service.
The Benefits of Automation
Workflow automation saves time, reduces human error, and improves compliance with regulatory requirements. It enhances borrower experience by providing seamless communication, timely updates, and professional service throughout the loan process.
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Top 25 Workflow Automations for Loan Origination Systems (LOS)
This document outlines 25 key workflow automations for loan origination, processing, and underwriting. These automations include automatic document requests, pre-approval notifications, daily missing document reminders, and auto-assigning loan officers, all designed to improve efficiency.
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Improving Loan Processing Efficiency
Automations like automated underwriting requests, compliance checklists, and broker status updates help streamline loan processing. These automations ensure that tasks are completed in a timely manner, reducing bottlenecks and errors in the workflow.
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Closing and Post-Closing Automations
Workflow automations for closing include document preparation, scheduling reminders, and title company coordination. Post-closing automations help with compliance reporting, follow-up tasks, and broker performance tracking, ensuring the process remains smooth even after the loan is closed.
Compliance and Reporting
Automated workflows are essential for maintaining compliance. Trigger-based actions like audit trail documentation, regulatory reporting reminders, and loan performance reviews ensure that all regulatory requirements are met while minimizing the risk of errors.
$400B+
Residential Investor Loan Volume Annually in 2023
$21B+
Funded loans through our platform
>14 Days
Average days to close a loan & get paid
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Achieving a Competitive Advantage with Automation
Lenders who adopt automation gain a significant edge by closing loans faster and providing superior service. Those who fail to embrace these tools risk falling behind as automation becomes the standard in lending operations. Ready to streamline your business and gain an edge? Automation is the key!
What Do LendingWise Customers Think?
After trying several commercial lending & hard money lending systems, we have finally found the perfect CRM & LOS software platform to scale our growing business. They have numerous robust features, it’s very customizable, and they are always willing to work with our unique requirements. It’s been amazing!
Whit McCarthy
CEO | Consistent Capital
LendingWise has been an invaluable CRM & LOS software platform to help us manage our borrowers, broker network and ever growing private money deal flow. They make our intake, processing, underwriting & loan closing process extremely efficient, which helps us continually grow and scale our hard money lending business!
Jeff Fechter
CEO | HouseMax Funding
After trying several commercial lending & hard money lending systems, we have finally found the perfect CRM & LOS software platform to scale our growing business. They have numerous robust features, it’s very customizable, and they are always willing to work with our unique requirements. It’s been amazing!
Matt Flores
EVP | CV3 Financial
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