PathSoftware Workflow Management
Virtually all industries have become dependent on advanced technologies to complete everyday operational processes. Lenders are looking to integrate innovative, advanced technology platforms in their organizations to help them streamline loan origination processes, mitigate risk and adhere to compliance regulations.
PathSoftware is a task-based workflow software that is designed to solve organizational and workflow complexities and enforce lenders’ management rules and policies. With Path, loans flow from user to user as each task is completed; each person to performs their role in seamless collaboration with all users involved in the loan process.
By separating task-oriented activities into well-defined processes, rules and roles move loans sequentially from user to user until each task is completed.
From origination, to sale and delivery, Path is an intuitive, analytical solution that provides innovative functionality and vital controls to keep your organization profitable and your workflow performing efficiently.
- Front End to Back End Workflow
- Lock Desk Workflow
- Parallel Workflows
A typical loan workflow seems straight forward—from origination, processing, and underwriting to closing, funding, and shipping. However, additional tasks that occur during the loan process do not fall in a particular sequence in the loan process, for example, locking a loan or compliance.
Loans are locked at various stages during the loan process and lock functions are performed simultaneously with other tasks in the loan workflow. The lock process follows its own milestones. The same applies to initial disclosures and re-disclosures. Certain processes should not stop the main process while they are being completed. These processes should be done in parallel with the main workflow.
The parallel workflows in PathSoftware closely mirror real-world mortgage lending workflows. With this in mind, Path is designed with parallel workflows to be able to handle the workflows separately while maintaining the main loan workflow.