Kaizen is a Web-based platform used in the loan auditing process. It can be customized with checklists, workflows, and real time dashboard and reporting modules. Kaizen systematically categorizes the root causes of the defects it finds, enabling lenders to correct these problems with the parties responsible before they become systemic. It builds dashboards, executive summaries, loan level reports and trend tracking across all the data. Kaizen also offers a Business Intelligence Dashboard where users can dynamically view, manipulate, and filter data. The integrated communication model enables automated feedback, improving productivity and compliance while reducing risk. The platform is available as a SaaS solution and is also used by Indecomm for clients who outsource their Post-Closing Quality Control (QC) and prefunding QC.
The technology used within Kaizen enables it to streamline the data comparison process and allows it to automate portions of the audit. Kaizen brings significant efficiency to a variety of audits including Loan Estimate (LE)-Closing Disclosure (CD) Reviews, Home Mortgage Disclosure Act (HMDA), Closed Loan Validation and Private Mortgage Insurance (PMI).
“Indecomm’s Kaizen technology continues to drive analysis in the mortgage space and is now offering enhanced use cases, which will significantly increase the efficiency of loan reviews for our clients,” said Rajan Nair, Chief Executive Officer of Financial Services for Indecomm Global Services.
Kaizen can compare data between documents to automatically answer questions such as whether a document is in the file and if it is signed. Rules are built in to use data for additional automation efficiencies.
“The competitive challenges in the mortgage industry today are both in automation and the development of human capital,” said Joy Gilpin, Vice President of Mortgage Learning and Compliance for Indecomm Global Services. “Indecomm’s automation solutions enhance the contributions of mortgage professionals, but to be truly effective lenders also need to ensure they have effective training programs for their staff.”
Gilpin will be moderating the “Hot Topics in Underwriting and Regulatory Compliance” Session at the RMQA Forum on Tuesday, Sept. 26 from 8:30 a.m.-9:30 a.m. Expert panelists will focus on the HMDA data collection requirements slated for Jan. 1, 2018 and how underwriting practices and new technologies, such as Blockchain, can provide a track record of compliance procedures.
