Option One Mortgage Corporation (OOMC) is one of the largest mortgage lenders in the United States funding $25.4 Billion in home loans as of 2006. In a highly competitive marketplace OOMC's goal is not to be the biggest mortgage lender, but the best, with faster processing, lower fees, and the highest standards of customer service.
Mortgage lending is a fast paced environment requiring data and documentation to be collected, verified, and reviewed quickly and accurately. Mistakes or omissions in a loan application can cause havoc, delaying funding or resulting in an improperly underwritten mortgage.
Also, with a large client base, OOMC was struggling to provide optimal customer service to clients with multiple loans that may be in-process or existing. OOMC employees had to search multiple systems, sometimes reviewing hard-copy documents, to support their clients, resulting in delays or errors.
To reach the goal of "best in class" customer experience OOMC needed to implement a highly automated, streamline origination and servicing process based on the latest technology. They chose Intellective for in-depth knowledge of loan origination and servicing combined with expert understanding of document and process management technologies.
Combining Intellective Unity with IBM/FileNet Content and Process Management technologies, OOMC was able to deploy a highly flexible solution. Leveraging the native capabilities of IBM FileNet P8 Content Manager and Case Manager, combined with the intuitive user experience of Unity, Intellective designed and deployed a world-class solution. This solution allowed company-wide visibility to critical data, both for evaluating and funding new loans as well as servicing existing loans.