Visionet Systems Inc., a leading automated document classification, indexing and data extraction provider for the mortgage industry, is pleased to announce it has entered a strategic relationship with Victorian Finance, LLC. With the initial integration, Visionet is automating the extraction of critical information from Victorian’s investors’ purchase advices and feeding that information back into Victorian’s Loan Origination System (LOS).
Visionet Systems has over 20 years of experience in providing businesses with innovative solutions for electronic document processing and Business Process Outsourcing services. The solution created for Victorian, based on Visionet’s VisiLoanReview (VLR) Platform, will save Victorian approximately 30 minutes per loan file and will virtually eliminate errors from manual data entry. “Many lenders’ processes are still unnecessarily lengthy and error-prone because they include sifting through documents and keying data into the LOS,” said Arshad Masood, CEO of Visionet. “Our technology and services allow Victorian to offload a cumbersome and tedious process and improve the efficiency and scalability of their organization.”
The integration allows Victorian’s users to send image or PDF purchase advices to VLR for processing and receive the underlying data back in the LOS in real time. Visionet has trained its technology to recognize purchase advices from Victorian’s numerous investors and extract up to 30 data points from each. The data is fed back to Victorian’s LOS in the proper field locations to allow downstream calculations and reporting to continue as normal. For damaged or poor-quality documents, Visionet provides a white glove service which handles all exception processing. The companies expect to expand their partnership in the future with additional document workflow automation, and related back office and IT services.
Sonny Bringol, Victorian’s President, said, “As the industry in entirety, we are constantly searching for more efficient methods to perfect the mortgage process. Visionet has become a key technology partner to reduce errors and cost in loan production. Visionet has been very cooperative in customizing to our operational strategy. I see Visionet as key partner is the future success of Victorian Finance.”
Visionet’s Masood added, “Visionet is continually enhancing our capabilities for mortgage lenders, and we welcome opportunities to partner forward-thinking lenders like Victorian. We look forward to a long, mutually beneficial relationship.”
About Visionet Systems, Inc.
Cranbury, NJ-based – Visionet Systems, Inc. is a full-service technology consulting and business process outsourcing company. Visionet delivers software solutions, services, and technology-led BPO products, which are built on the best-of-breed philosophy to help our customers increase business agility, drive down their costs and reduce risks. Over the years, Visionet has engineered high performing and cost-effective solutions for its customers across diverse industries including, banking, retail, insurance, distribution and manufacturing, while building deep competencies in the mortgage Industry. We are focused on delivering value and exceeding customer expectations. For more information, visit us online at http://www.visionetsystems.com.
About Victorian Finance, LLC
Victorian Finance, LLC was founded in 2002 and has expanded its presence to more than 20 offices across 13 states. We are dedicated to providing a comprehensive and competitive real estate financing solution for each client. Each of our professionals has extensive experience and knowledge in all aspects of real estate financing, including mortgage refinance and current mortgage rates. We have the products, capabilities, and knowledge to understand your unique situation and customize your optimum financing solution.