VeriCompliance Process

Multiple Workflows that transform your loan files into Trusted Financial Assets, one at a time.

Cleaning up loan files is complex and expensive with few rewards for those brave enough to attempt this Herculean task. So, people wait until external pressure mounts and the pain of not doing the work exceeds the pain of doing it. Expensive consultants are hired and an ad hoc process is completed, again and again. But the root problem is not solved, and the loan files are soon in disarray.

To solve this problem, we created the VeriCompliance Process. It puts you in charge of designing the solution that is just right for your immediate needs. We created multiple workflows that can be performed as needed on one, a subset, or all of your loans. Imagine selecting a set of loans from your computer screen and ordering a Loan Sale Preparation Workflow with agreed upon procedures and form of report from a preferred vendor who can remotely perform the work. Well, with the VeriCompliance Processing Center you can do this in response to your needs. Here how it works:

This process literally sucks the loan files out of your share drive (or Box/Dropbox) and replicates your current file structure, watermarks each documents with a Unique ID and Loan ID and places them into the “In Process” view in the VeriComply Digital Repository. You can then select whichever loans (or even portions of loan files) you want to further VeriComply by breaking up PDF blobs, extracting document titles, and creating a Filing Map and naming convention for your loan files.

This process starts with uploading your loan data tape and then having a knowledge worker validate the accuracy of this data against actual data in the source document. This ensures that critical data like interest rate, maturity date and pre-payment penalties are accurately reflected in the loan servicing system.

This process enables companies to prepare their loan portfolios of audits or regulatory examines. The Workspaces are used to create a complete audit history of each key item of the data tape and to organize the loan file in the correct stacking order.

This process helps companies prepare to sell or buy a portfolio of loans. Personally Identifiable information can be redacted and the loan files sorted in multiple stacking order to match the buyer’s request. Once the loans have finished this process, they can be posted automatically into a VeriComply Digital Repository in the Azure Cloud, saving time and expense vs moving the files to a VDR or online sharefile.

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