Lender's Loan Volume More Than Doubles With New Distributed Document Capture & ECM Software
Throughput, the quantity of raw material or information processed or communicated in a given time, can either hamper or help an organization.
In the case of Colonial Savings, a leading retail lender serving residential mortgage customers in the U.S., the maximum throughput of its older, centralized Electronic Content Management (ECM) system was both costly and becoming a performance bottleneck, hindering the company’s growth.
One of the nation’s largest mortgage loan servicing firms, Colonial, headquartered in Ft. Worth, Texas, issues, buys and services loans through 24 branches across the country with a volume of $21 billion. The firm is also a mortgage service provider to more than 1,000 credit unions, and supplies mortgage origination and servicing to community banks.
Over the course of 62 years, Colonial grew from processing 700 loans monthly to over 5,000. Success is sweet, but the high volume was a double-edged sword. Colonial needed a newer and better solution to speed the processing of mortgages. The efficiency drag was costing the company time and money.
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