Visionet Systems has announced the launch of its VisiLoanReview (VLR) solution at
Ally Bank. This platform will help Ally Bank drive efficiency and accuracy, shorten review time, and control operating costs, resulting in lower loan acquisition costs, a higher degree of confidence in trade data, and better decision making and execution.
The VLR platform uses a robust workflow and rules engine, and provides automated document capture and loan processing facilities for conforming and non-conforming first mortgages, closed-end seconds procured in bulk, mini-bulk and flow scenarios.
“Visionet’s VLR solution has allowed Ally to quickly and more cost-effectively evaluate, and bid on, and secure deals for Ally’s investment portfolio,” said Craig Evans, Mortgage Executive at Ally Bank. “The data collected by the solution will feed into our models and improve them over time, and VLR’s ability to ingest and process loan documents makes it easier for sellers to do business with Ally.”
VLR will assist in Ally Bank’s continued growth by: Tracking trade activity; indexing closed loan packages and data tape from sellers, keeping track of any missing documents; extracting document data using embedded OCR technology; performing document-to-data comparison and validation; transforming, staging, and packaging documents for due diligence, external partners, and downstream systems; and exchanging data in real-time for securitization, tape cracking and loan servicing.
“We are gratified that an organization such as Ally has chosen Visionet and VLR to automate its document-centric mortgage processes. This successful launch is further confirmation that we have the expertise and tools to help mortgage lenders of all sizes increase speed and reduce cost,” said Arshad Masood, CEO Visionet Systems.
