CRANBURY, N.J. and BRIDGEVILLE, Pa., Oct. 17, 2016 /PRNewswire/ -- Visionet Systems Inc., a leading document classification, indexing and data extraction provider for the mortgage industry, is pleased to announce a strategic relationship with Victorian Finance, LLC. The integration allows automated extraction of critical information from Victorian's investors' purchase advices and feeding of that information back into Victorian's Loan Origination System (LOS).
Visionet has over 20 years of experience in providing innovative services and solutions for electronic document processing and workflow. This solution, based on Visionet's VisiLoanReview (VLR) platform, saves approximately 30 minutes per loan and virtually eliminates errors from data entry. "Many lenders' processes are lengthy and error-prone because they include sifting through documents and manually keying data," said Arshad Masood, CEO of Visionet. "Our solution allows Victorian to offload a cumbersome, tedious process and improve their efficiency and scalability."
Victorian sends purchase advices to VLR for processing, and the LOS receives the underlying data back in real time. Visionet has trained VLR to recognize and extract data from numerous investors' purchase advices. The data is fed back to Victorian's LOS in the proper field locations to allow downstream calculations and reporting to continue as normal. For damaged or poor-quality documents, Visionet's white glove service handles exception processing. The companies expect to expand their partnership in the future with additional document workflow automation, and related back office and IT services.
Sonny Bringol, Victorian's President, said, "As the industry in entirety, we are constantly searching for more efficient methods to perfect the mortgage process. Visionet has become a key technology partner to reduce errors and cost in loan production. Visionet has been very cooperative in customizing to our operational strategy. I see Visionet as key partner is the future success of Victorian Finance."
Visionet's Masood added, "Visionet continually enhances our capabilities for mortgage lenders, and we welcome opportunities to partner with forward-thinking lenders like Victorian. We look forward to a long, mutually beneficial relationship."
About Visionet Systems
Cranbury, NJ-based - Visionet Systems, Inc. is a full-service technology consulting and process outsourcing company. Visionet delivers software solutions, services, and technology-led BPO products which help our customers increase business agility and reduce cost and risk. Visionet has engineered high performing and cost-effective solutions for its customers across industries including banking, retail, insurance, distribution and manufacturing, while building deep competencies in mortgage. For more information, visit us online at http://www.visionetsystems.com.
About Victorian Finance, LLC
Victorian Finance, LLC was founded in 2002 and has expanded its presence to more than 20 offices across 13 states. We are dedicated to providing a comprehensive and competitive real estate financing solution for each client. Each of our professionals has extensive experience and knowledge in all aspects of real estate financing, including mortgage refinance and current mortgage rates. We have the products, capabilities, and knowledge to understand your unique situation and customize your optimum financing solution.
Marlo J. Bodinizzo
609.452.0700 X 1150
Victorian Finance, LLC
Mary Beth Frank
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SOURCE Visionet Systems, Inc.