Best Digital Mortgage Bank Awards 2018

Call For Entries Questionnaire

Be sure to complete the Best Digital Mortgage Bank Entry Form and include it with your submission. Click here for the Entry Form and Call for Entries.

On the following questionnaire, check the box most relevant to your answer. For open-ended questions, please try to limit your answers to 200 words unless otherwise instructed. You may skip any questions not relevant to your submission or which you are unable to reply to. Applicants may attach additional supporting materials. The Infosys judging panel will review submissions. Global Finance editors will make the final award selections.Please note the following important entry details:

• Digital mortgage banks may choose to compete in one or more countries.

• The entry fee to compete in one country is $1,000.

• The fee for additional countries is $1,000 each.

• On your entry, please indicate all countries you intend to enter and complete the Information Requirements and Payment Instructions located on the Entry Form.

All documents should be submitted to Chris Giarraputo, chris@gfmag.com. Call 1-212-524-3214 with any questions.

Deadline for entries is May 15, 2018.

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1. What percent of your mortgage products can be originated using online channels (other than branch)?

2. Mortgage spending focus: a. IT budget for mortgage technology (approx.) for the current fiscal year .

b. Expected change in budget for mortgage technology by next year.

3. Are you using a third party product tool for mortgage origination and/or servicing?a. Origination

b. Servicing

If ‘Yes’ option was selected above, please highlight the applicability of tool.

More than 90% 75-90% 50-75%<50%

Not Applicable Hybrid NoYes

Not Applicable Hybrid NoYes

Unsure$50M-$100M$25M-$50 M$5M-$25 M<$5M

Not ApplicableUnsureNo ChangeDecreaseIncrease

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Loan Stages Yes/No/NA Name of the tool (if available)

Details (if any)

PreapprovalOriginationProcessingUnderwritingClosingDisbursementServicing

4. Do you use artificial intelligence and/or machine learning based modeling for fraud detection or predicting loan defaults?

5. What are your methods to handle customer queries/questions? (Select all that apply.)

If ‘Others’ option was selected, please elaborate (Limit 200 words).

6. Mark the functionalities available in your website/online customer portal/mobile app as below

Functionalities Used by Bank(Yes/No/NA)

Future Roadmap

(Yes/No/NA)

Comments (Please elaborate)

Details of various mortgage programs/guidance on mortgage plans/rate and points selection/ homebuyer’s guideCreate loan application online and submission by customerTrack status of mortgage application

Mortgage Tools

Upload and download documents for mortgage applicationRespond/initiate communication with mortgage officersCustomer e-sign documents

E-closing capability

Set up alerts - email, phoneOthers

7. Please mark the appropriate selection

PartialNoYes

OthersFace to FaceEmailPhoneChatbot

N/A>75%50-74%25-49%<25%Auto decision rate

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8. Please provide any other information you think will strengthen your case.

N/A>75%50-74%25-49%<25%Loan pull through rate

>7050-7030-4915-29<15Average lead-time from application to funding (Days)

>107- 9.94- 6.92- 3.9<2Average cost to close the loan (1,000 $ USD)

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