CHARLOTTE, N.C.--(BUSINESS WIRE)--Wyndham Capital Mortgage, a leading digital home lending company, has been announced as a recipient of the coveted Innovation Award by Ellie Mae. The honor recognizes Wyndham as the industry leader in AI technology, having leveraged robotic process automation, or RPA, to create a workflow that is faster, smoother and more efficient.
The Innovation Awards, as described by Ellie Mae, highlight the “best and brightest companies in the mortgage industry who are using Ellie Mae's Encompass™ Digital Lending Platform and solutions to originate more loans, lower origination costs and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency.”
Wyndham deploys several rapid innovation processes to continuously improve digital mortgage operations, focusing on four key areas: loan setup, initial and closing disclosures, loan service initial reviews and lock desk. This fully automated system produces increased speed at scale while delivering a faster and easier borrower experience.
“Many organizations choose RPAs primarily for the cost savings or increased quality, but our principal driver for robotics is scalability,” said Wyndham Capital Mortgage President Ben Cowen. “Winning this award is a true testament to our people-driven, technology-enabled culture at Wyndham Capital Mortgage.”
As a result of this culture, Wyndham has seen a savings of $170 per closed loan and significant savings on labor costs. Additionally, it has removed over 3,000 hours of manual processes per month while handling a 160 percent increase in disclosures - all with no adverse effect on operations.
"Congratulations to our 2020 Ellie Mae Innovation Award Winners," said Jonathan Corr, president and CEO of Ellie Mae. "We are honored to recognize these leading lenders for their use of technology to grow their businesses and the mortgage market at large. They truly are shaping the industry by leveraging automation, data and automated intelligence by simplifying core processes and making their workforces more efficient."
About Wyndham Capital Mortgage
Wyndham Capital is a digital home lender that gives homeowners competitive rates, lower total costs, and no hidden lender fees. Founded and based in Charlotte, N.C., Wyndham uses advanced technology and expert guidance to deliver best-in-class value, convenience and service. For more information, visit www.WyndhamCapital.com.