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TMCNet:  Kofax Launches Mortgage Agility

[July 22, 2014]

Kofax Launches Mortgage Agility

IRVINE, Calif. --(Business Wire)--

Kofax® Limited (NASDAQ: KFX) (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today introduced Kofax Mortgage Agility™, a solution designed to radically transform and simplify the mortgage application process.

Mortgage Agility streamlines the critical initial steps in the mortgage lending process by enabling applicants to use any channel, including mobile devices, internet portals, email, fax and paper, to submit mortgage application information. The solution then extracts the business critical content, uses business rules to check for missing or inconsistent information and enables collaborative communications between the applicant and lender to capture trailing documents and resolve exceptions. It then leverages defined workflows, business rules, compliance requirements and due dates to assemble a complete mortgage application package for entry into loan origination systems, including Ellie Mae Encompass 360. It can also connect to third party software applications or web sites to, for example, verify applicant information, order credit or appraisal reports and other purposes. All of this is accomplished while keeping the applicant informed about the status of their application and providing lender management visibility into the loan process and loan officer performance via near real time interactive dashboards.

Mortgage Agility combines a robust set of multichannel capture, business process management, mobile, analytics and data integration capabilities on a single platform to provide a less frustrating and more convenient customer experience for applicants, and helps lenders close more quality loans faster and at a lower cost.

Waterstone Mortgage Corporation, a Milwaukee based lender that originatedmore than $1.8 billion in loans during 2013, is an early adopter of Mortgage Agility. As a member of Kofax's new Lighthouse Account Program, industry leaders like Waterstone help shape the requirements of new smart process applications such as Mortgage Agility.


Eric Egenhoefer, President and Chief Executive Officer of Waterstone Mortgage, commented, "Kofax's solutions are extremely intelligent and will be instrumental in delivering a new wave of business-critical information to the all-important First Mile of decision making. Until now, this technology didn't exist for lenders. It's a game changer for our business, because it will enable us to engage better with our borrowers, increase operational efficiencies, save time, boost productivity, minimize costs and identify opportunities for improvements and increased revenues."

"Lenders are examining all phases of their mortgage loan process to better serve customers, gain efficiencies, improve quality and comply with new regulations," said Grant Johnson, Chief Marketing Officer at Kofax. "By getting the application data right in the First Mile of the process, there is a bigger payoff for both the borrower and the lender."

To learn more about Mortgage Agility click here, and to learn how mortgage lenders can benefit from this solution, download the white paper, In Pursuit of a Paperless Mortgage Process, here.

About Kofax

Kofax is a leading provider of smart process applications for the business critical First Mile of customer interactions. These begin with an organization's systems of engagement, which generate real time, information intensive communications from customers, and provide an essential connection to their systems of record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile can dramatically improve an organization's customer experience and greatly reduce operating costs, thus driving increased competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in financial services, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.

© 2014 Kofax Limited. Kofax is registered trademark and First Mile and Kofax Mortgage Agility are trademarks of Kofax Limited. All other registered trademarks and trademarks are the property of their respective owners.

Source (News - Alert): Kofax


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