[Playbook] Extracting Documents from Your LOS

Here’s the situation: Your financial institution relies on its LOS (loan origination system) throughout the entire decisioning process. Unfortunately, you don’t have a great process for extracting, saving, and organizing documentation after loan approval. That means important credit documents, proof of insurance, preliminary title, pre-recorded deeds of trust, and other information reside in your LOS longer than necessary. Some team members prefer printing documents from your LOS—only to scan them back into your digital archive. Downloading documents into a zip folder eliminates unnecessary scanning, but there’s still a considerable amount of work to do.

Modern financial institutions need a better way to extract and manage documents from their LOS. This article explores two approaches for AccuAccount users: “drag and drop” and interfaces.

Play 1: Drag and Drop from Your LOS

Being able to “drag and drop” items from one system to another is a key capability for efficient document management. At Alogent, we’ve built AccuAccount to make drag and drop easy—including the ability to save images from other applications.

Here’s the Game Plan

• Step 1: Locate the document in your LOS.
• Step 2: Find the corresponding customer or member in AccuAccount (in a different browser window).
• Step 3: Click on the document in your LOS. Holding down your cursor, drag it into the correct tab in AccuAccount. Releasing your cursor uploads the document.

Pro Tip: Need to edit the document prior to uploading? 

Read our drag and drop playbook article for best practices

Play 2: Automate the Process through an Interface

Drag and drop is easier than printing and rescanning; however, someone might save a document in the wrong location or forget to take action. An even better solution involves interfacing your LOS and AccuAccount. Although there’s an upfront investment of time and resources, we believe that this approach usually pays for itself in the long run.

Here’s the Game Plan

• Step 1: Alogent will collaborate with you to develop a “document mapping strategy.” Once that’s planned out, we’ll do the technical work to configure the interface.
• Step 2: AccuAccount runs a nightly process to check for recently closed loans. Data from the core tells AccuAccount which documents to expect from your LOS. Then, AccuAccount pulls those documents from your LOS and stores them in the correct location.
• Step 3: Each morning, your loan administrator can see the prior day’s booked loans (and documents) neatly organized in AccuAccount. Collateral-related exceptions begin tracking in the system, too. Best of all, your loan admin didn’t manually move any documents!

Unlock the Value of Documents in Your LOS

Need a better workflow for accessing LOS documents? 

Talk to Alogent to explore our document imaging interfaces

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