Robotics and the Digital Impact

While other mortgage lenders clambered to introduce more automation into their processes in early 2020, Wyndham Capital Mortgage was already fully up and running. 

We’ve spent the past six years investing in an end-to-end digital mortgage process that takes consumers from loan application to close, all online. Our process provides the speed, ease and convenience that modern borrowers expect while saving them money now and in the future. 

With the institution of robotics, digital platforms, and artificial intelligence, we’re able to streamline data collection, input and processing and expedite the loan application experience while our competitors are just beginning. 

It begins with our very first interaction with a potential borrower. Efficiencies are built into the online application and pre-approval process. Our loan officers don’t have reach out and gather preliminary data – our robotics handle that. Once the information is collected, our loan officers have the necessary information they need upfront to kickstart the loan verification process.

These time-saving digital processes continue through to loan lock and close. At WCM, menial, administrative tasks have been replaced by robotics, and the overall time from application to closing consistently beats the industry average by 30 percent. 

So, what are Intelligent Automations?

They’re the leading-edge technology we’ve invested in that free up our loan officers from mundane tasks and allows them to focus more on income-producing activities. These intelligent automations result in a faster, more efficient, more accurate lending process. 

It also challenges the traditional model that equates increased volume to increased headcount. By incorporating intelligent automations into our business model, we’re able to increase scalability and provide a more gratifying work experience for our staff on all ends of the business – from our loan officers and processors to our customer experience team and underwriters.

Why Robotics?

The robotic processes performed behind-the-scenes at WCM are essentially the menial task completers that used to pull loan officers into a bog of paperwork, handwork and slow work. From borrower information gathering to processing, robotics free our loan officers from speedbumps on the way to closing a loan. 

Not only is your time as a loan officer more focused, but so is your expertise. Wyndham Capital allows for knowledge building in the most crucial parts of your job to take precedent throughout your career, giving you a faster path to the important experience-growing goals. This makes you better at your jobs in the long run, while creating a smoother, easier process for borrowers.

WCM has installed robotics into operations at many points in the process with a variety of advantages for our loan officers.

The Robotic Impact – Our Robots:

  • Perform the low value, menial work, freeing up our loan officers to focus on more knowledge-building, incoming-producing activities.
  • Work 24/7, holidays and weekends at no additional cost.
  • Can be terminated or retired when they’re no longer needed without harm to family or finances.
  • Can be ‘hired’ and onboarded with no training necessary – we simply copy their programming.
  • Work quickly and eliminate stall time, significantly reducing the time it takes to move a loan application to funding. In fact, in 2020, we saved approximately 525,000 hours of stall time through robotic processes across the loan application operation.
  • Save money because faster turn times mean more competitive rates. The longer the rate lock, the more expensive or higher the rate quote.
  • Eliminate human error.
  • Help scale our business because they can be enabled and disabled within 24 hours as needed.

As a result of intelligent automation, WCM consistency closes loans faster than industry standards and offer lower, more competitive rates to our customers.  

Loans Per FTE

Compared to industry average of 1.9 per full-time employee.

Eliminating Delays

Number of clicks by employees eliminated through robotics.

Tech Efficiency

Robotic processes performed per month.

Time Saved

Employee hours saved via robotic processes per month.

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