MBI As A Smart System

With mortgage business intelligence (MBI) systems becoming more commonplace in our industry, even non-users know how this technology can replace spreadsheets and reports, significantly expanding the production capacity of any mortgage company without adding staff. MBI’s utility in sales operations, secondary marketing, compliance, wholesale, and servicing is also becoming more widely known.

Popular technologies are always evolving to deepen their connections to growing user communities, and MBI is no exception. In fact, MBI systems are now beginning to exhibit attributes of smart systems, or those able to automatically analyze situations, make decisions based on available data, and initiate automatic actions on behalf of their users.

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One of the earliest examples of this was automated electronic delivery of data views. The more capable MBI systems on the market have in recent years offered the ability to automatically deliver views of dashboards, grids, drilldowns, scorecards, or reports via email. Superior systems now allow users to deliver any view from their MBI platform via email to any user or group of users immediately, or according to an automated schedule that they can create on the fly. Critical reports or key data views can be delivered to the users that need them throughout the day, or even before the day begins, so the information is waiting for them when they arrive to work.

Some MBI systems have taken this functionality a step further with smart notifications. This is a system’s ability to automatically send one or more messages to one or more users when one or more conditions exist in the production environment. A common use of this feature is the generation of automatic emails to loan officers under certain conditions such as loan submission, denial, or approval. These messages can incorporate borrower email addresses to send birthday or anniversary messages, or any news on the progress of their loans.

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And with this year’s pending regulatory changes, these smart functions will likely become indispensable as lenders struggle to stay on top of new requirements for each and every transaction. A smart MBI system can alert users to record the application date the moment that all six fields that comprise the new definition of a loan application are populated. It can also send departmental alerts to highlight a group of loans that will be soon out of compliance unless disclosures are sent within the next 48 hours. Lenders can even incorporate “stale loan” alerts, which are sent if one or more loans haven’t been accessed or worked on for 24 hours or more.

This functionality will continue to evolve, and MBI systems will keep getting smarter. In fact, the trend is likely to parallel those seen in other industries where automatic notifications give way to automatic actions. Can these systems actually be made to populate application dates, or generate and send disclosures? No question. Will lenders trust them to do so? That’s another story.

About The Author


Jon Maynell

Jon Maynell is a mortgage industry veteran, with over 25 years of experience designing, marketing, and writing about mortgage technology. He is currently Vice President of Client Services at Denver-based Motivity Solutions, Inc. He can be reached at 303-721-9000, or jon.maynell@motivitysolutions.com.