The product provides automation, monitoring, and optimizing of Mortgage Finance process actions and integration with bank systems, evaluators, compliance, legal and third parties to avoid manual work. A mortgage is secured by the property it is used to purchase. One must make monthly payments on a mortgage, and there is a set term before full payment is due, often 15, 20, or 30 years. Some mortgages have fixed interest rates, while others have variable interest rates.
Product enables the bank to have end to end process visibility to have workflow capabilities which will include the following functionalities: