Gateway Loan Review

Gateway Loan Review is a new web-based, borrower facing system that directly connects your Loss Mitigation department to the Borrower in a whole new way. Gateway is designed to solve several key issues that can harm the loan workout process, including:

• A borrower’s failure to submit all of the required documentation
• An incomplete or incorrect borrower application
• Lack of sufficient field-level instruction to guide the borrower through data entry and application assembly
• High volumes of paper-based applications that slow processing
• Resource intensive file-setup processes that require manual data entry from the borrower application into the decisioning system(s)
• Lack of borrower engagement due to perceived lack of support and process complexity
• Inability to enforce application data requirements up-front at initial application assembly
• High inbound call volumes from borrowers needing guidance on completing an application
• And many others…

Product Description

Gateway Loan Review is a plug-and-play solution that can be quickly and easily implemented within any loss mitigation infrastructure. The system provides on-line functionality which allows the borrower to assemble their loan workout application and submit online. Straight forward data feeds allow the client to receive these applications in fully electronic form for automated upload directly into their applicable loss mitigation systems. Features include:

• A best-in-class user (borrower) interface that has received high marks for usability, screen flow, data capture, and support (see the Evolution side bar for more)
• Flexible design that allows the user to build their application piece meal or in one sitting
• Robust Help functionality that includes field-level instruction, videos, and tutorials.
• Multiple methods for borrower document upload, to cover even the least ‘tech-savy’ borrower.
• Customizable implementation, including client-defined business rules and field permissioning, Private-Labeling, and others (see the Customization side bar for more)
• Multiple delivery options, including standard data feed, custom feeds, and hard-copy efax (see the Customization side bar for more)
• 24/7 user accessibility

Client Benefits

Gateway Loan Review offers both immediate and long-term benefits to its client base:

• Improved Conversion Rate. By directing borrowers to Gateway Loan Review, clients will see the rate of quality, complete loan workout applications improve significantly.
• Reduced Denial Rate Due To Missing Documents. Borrowers who struggle to pull their documents together can now do so easily through Gateway.
• Reduced Processing Cost. This comes from many aspects of the system, including the reduction in client overhead required to process incomplete applications and likewise required to process paper-based applications manually
• Increased Efficiencies. With technology solutions comes the opportunity to automate process steps, such as file setup, analysis, and support, that yield significant process efficiencies.
• Long Term Strategic Value. As borrower default rates eventually normalize, Gateway will continue to provide all of these benefits over the current manual, paper-driven process.

For more information or to request a personalized demo, please contact us at: info@fortegroup.com