Ensure legal compliance, dynamically change data without affecting the processes, ensure all tasks are carried out.

The loan origination process typically involves many sub processes such as vendor interactions, for e.g. Title, Appraisal, Credit, Document procurement, Scanning, Document generation as well as general purpose decision making and calculation.

Each sub process may use an arbitrary combination of these activities. These may also require approval and audit. Most of these sub processes are independent of one another and require certain coordination with reference to loan progress only.

There are more than 250 such processes for just refinance loans. A typical loan instance has about 70-100 sub processes.

Tavant has developed a framework called STIPS to ensure modeling and execution of all these sub processes. This also includes efficient management and tracking of these processes.

This framework seamlessly integrates all the above mentioned diverse activities.

The framework also handles optimal routing of the sub processes to the relevant persons, tracks service level agreements (SLAs) and manages alerts.

The framework ensures that all and only the applicable sub processes are executed through a process called STIP Reconciliation. This is a huge improvement over the existing system; it dramatically improves legal compliance and sale-ability of the loan to investor.