CRANBURY, N.J., Aug. 9, 2017 /PRNewswire/ -- Visionet Systems, a leading provider of mortgage technology solutions and technology-led BPO services, is pleased to announce the successful 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. 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
- Exchanging data in real time for securitization, tape cracking, and loan servicing
"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."
"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," added Arshad Masood, CEO Visionet Systems.
About Visionet Systems
Headquartered in Cranbury, NJ, Visionet Systems, Inc. (visionetsystems.com) is a full-service technology consulting and business process outsourcing company that delivers software solutions, services, and technology-led BPO products built on a best-of-breed philosophy to help its customers increase business agility, drive down costs and reduce risk. With deep ties to the mortgage industry, Visionet has a decades-long track record of successful projects involving data capture, business process automation (BPA), enterprise application integration (EAI), omni-channel enablement, and e-commerce, and has engineered many high-performance, cost-effective solutions across a wide range of sectors including, banking, retail, insurance, distribution, and manufacturing, with a focus on delivering value and exceeding customer expectations.
Marlo J. Bodinizzo
609.452.0700 x 1150
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SOURCE Visionet Systems Inc