Implementing effective doc prep procedures is key for ensuring success in today’s lending environment. Cores and loan documentation software are primary tools used by doc prep teams, but a system like AccuAccount can also play an important role.
Here are two ways to streamline your pre and post-booking workflows with AccuAccount.
Doc Prep Teams: Verifying Info Before Booking
Doc prep staff are responsible for inputting loan-related data into the core. Employing knowledgeable, detail-oriented team members is a critical first step. Doc prep teams must also be properly equipped with the right technology and information. This includes making it easy for them to access, view, and verify loan presentations and packets, customer or member credit documentation, collateral records, and other files. Leafing through stacks of paper or digging through network drives, however, creates frustration and opens the doors to oversights.
With AccuAccount from Alogent, doc prep teams no longer need to forage through unstructured folders of documents. Instead, staff can quickly search for an existing borrower’s name to view relationship and credit documentation. And, if early capture workflows are utilized, doc prep staff can also view digitized loan applications, worksheets, lender documents, and other records prior to booking. Document thumbnail view in AccuAccount provides a user-friendly experience that simplifies the review process.
Downstream Users: Accessing Booked Loan Information
After helping doc prep teams facilitate the booking process, AccuAccount becomes a recipient of new loan data in the core. Each night, AccuAccount automatically checks for updates and pulls in fresh information. By the time staff arrive in the morning, AccuAccount has already been updated with the latest data—including for loans that were booked on the previous day. Exceptions can begin tracking automatically, too, which streamlines reporting and increases visibility for trailing documents.
Contact Alogent to learn about our ECM solutions for lending