Mortgage Banking
Product Eligibility, Pricing & Automated Underwriting
Diwan’ pre-qualification and automated underwriting solutions for mortgage bankers automate the origination workflow from pre-qualification, credit and debt management, best-fit product and pricing delivery, and true automated underwriting to loan closing. Powered by its Business Rules Management System (BRMS) called DIRRE, the precision of Diwan’ decisioning solution delivers accurate, razor-sharp underwriting approvals on even the most complex of loans, eliminating risk. What’s more, these functions can be pushed to the point-of-sale for the wholesale, retail and correspondent/conduit lending channels, enabling loan officers and brokers to close borrowers faster while at the point of first prospect contact.
Pre-Qualification
The Pre-Qual solution allows loan officers and brokers to perform what-if analysis to rapidly qualify borrowers for best-fit product and pricing eligibility. The solution’s core architecture is pre-built and out-of-the-box, which allows for quick and easy integration with existing systems and processes.
The Pre-Qual solution enables lenders to evaluate a borrower’s profile against the lender’s specific guidelines to quickly scan all of the programs and respective pricing they qualify for. Preliminary eligibility for products and pricing with side-by-side program comparisons are returned in seconds to loan officers or brokers, enabling them to quickly present the most befitting program based on borrower motivation.
Diwan’ strong pre-qualification solution is a component of its powerful, multi-purpose BRMS. The system can be used as a true AUS, or can serve to only deliver product eligibility and pricing.
Credit and Debt Management
Diwan’ Credit and Debt Management solution intelligently assesses risk based on a borrower’s profile summary and credit worthiness. Brokers and loan officers are able to pull or re-pull credit from the credit provider of choice, and then accurately restructure the borrowers’ debt by allowing individual trade lines to be paid down or paid off for purposes of automated underwriting.
All encompassing credit and decisioning information is instantly returned to qualify prospective borrowers over the phone for “best-fit” products and pricing. Risk is drastically reduced by delivering precision-based credit assessments to the point-of-sale.
Automated Underwriting
Before Diwan developed any of its products, the company focused on the core engine behind its decisioning platform – its business rules engine. This loosely coupled, service-oriented solution is suited for bankers that underwrite prime loans as well as non-prime loans, where the decisioning is more intricate, the guidelines are far-reaching, and the potential risks are greater.
The Automated Underwriting System (AUS) returns a precision-based risk assessment that does the “thinking” for underwriters so they can focus on more involved exceptions that require manual review, thus streamlining the majority of the workload borne by underwriting departments. The Diwan AUS instantly returns all eligible or approved products and pricing, complete with program misses, conditions and exceptions.
Diwan’ AUS is powered by its service-oriented Business Rules Management System, which can be fully managed by business analysts without ever having to look at code. As a result, bankers are able to quickly respond to volatile marketplace conditions by making having business – not IT – make, test and deploy business rules. This dramatically reduces the implementation time frame, enables unprecedented enterprise-wide agility, and dramatically lowers total cost of ownership (TCO).
Compliance
Diwan’ Business Rules Management System can also be utilized as a precision-based Compliance Engine to achieve loan compliance and quality control from the point of initial application and re-verification throughout the loan life cycle thus greatly reducing the occurrence of regulatory violations, fraud and other anomalies. As a result, loans are always sellable because they’re validated to be within guidelines and re-decisioned whenever data is modified.