In a $500,000 deal, Western Bank purchased an imaging system from NCR and software from Intelus to improve mortgage loan processing, including loan origination, marketing, and servicing.
The Coos Bay, Ore., bank has 36 branches.
Typically, such tasks as deposit and employment verification are done one at a time. If a customer calls to check on the status of the loan application, the loan folder must be tracked to see who has it and what needs to be done.
This new system will replace the loan folder with an image file. All required forms and verifications are scanned, stored, and tracked. The system will alert loan processors when tasks are not adhering to work schedules.
Intelus has headquarters in Rockville, Md. NCR is based in Dayton, Ohio.