As commercial and consumer loans were approved, they were routed through a final audit process prior to funding that required moving through multiple work areas. Files were routinely lost since there was no file tracking. This required hours of retracing steps to locate the loan file.

The OPUS Solution…

The bank installed OPUS iNET along with the OPUS Transfer Agent.

As the loan files were created, a color barcode label was attached to the file and it began its journey through the audit phase. At each workstation the file was scanned into a stationary barcode reader and the OPUS Transfer Agent recorded its new location. This process was completed entirely in the background and did not disrupt any process the user had on their workstation.

Once completed, the loan file was stored in the Collateral Vault. The tracking of the loan collateral file was critical to the compliancy of this financial institution. User can also attach user definable checklists to monitor the auditing of the loan file as new documents came in. Reports can easily be run to identify incomplete loan files.

Users also utilized custom transmittal forms to transfer key documents to outside legal firms and Document Custodians.

The OPUS Transfer Agent was used to seamlessly transfer files from one work area to another and reflect a history of each movement. The OPUS Transfer Agent works with barcodes and RFID tags.

For Mortgage Documents & Exceptions

OPUSx provides a comprehensive solution for the special handling of Custodian Documents and Exceptions tracking required in the Mortgage Industry.