Workflow can be used to monitor the status of loan files and automatically route them to the appropriate person(s) based upon pre-defined rules and process flows. In addition to automated routing, users can route documents on an ad hoc basis. Workflow allows management to analyze the loan production process, plan and test changes to the work process.
Workflow provides an environment where the tools and documents required to process a loan are readily available on the desktop. In some cases, Workflow identifies which task the user is performing and automatically opens documents appropriate for that task.
When a new loan file arrives, it is assigned to an underwriter. The underwriter selects the loan file and Workflow executes the user work specified for underwriters. For example, a form may be displayed in which the underwriter enters comments and then selects the appropriate button, cancel, approve or deny. A rule then tests to determine the underwriter's response and initiates the appropriate transition; to cancel, deny, or to route to the account manager. It may be necessary to route the document to multiple underwriters for approval before submission to the account manager. If the underwriter is out that day, a timer, (a monitoring process running on the Workflow server) automatically reassigns the loan file to another underwriter.
When the loan file makes the transition to the account manager queue, the system work for the account manager queue initiates and automatically faxes the approval to the broker. The loan file rests in the queue until the account manager selects it and begins the user work. When the account manager completes their work, Workflow checks to see if any outstanding funding conditions remain. If there are no further conditions, Workflow automatically routes the appropriate documents to funding. Otherwise, the loan file remains in the account manager queue until all conditions are fulfilled.
Typically, queues are shared by groups of individuals. Many workers can share the same queue, but each would see only the document files assigned to him or her using a load balancing queue.