Hyland Seeks Servicing Benefit from Post-Closing Automation: 'It translates into doing more loans more quickly with fewer people.'.

CLEVELAND -- Hyland Software does a lot more than just help lenders scan documents into computers, company executives told MSN last week.

Today, Hyland puts its focus on enterprise content management. And the company's key product, the OnBase software suite, is designed to help lenders manage data and documents from a variety of sources and formats.

The goal is to help lenders not only originate loans more efficiently, but also board them onto servicing systems and conduct quality control reviews with greater automation of those processes.

Jason King, director of the financial services group at Hyland, said that enterprise content management - ECM in technology circles - will help lenders better integrate loan servicing with their loan origination channels. For one thing, ECM can allow text-based data from a servicing system to be stored and indexed for easy retrieval.

"Ten years ago we were purely known as an imaging company," Mr. King said. "Now it's more business process-centric."

As such, Hyland is stepping up its emphasis on the post-loan-closing aspect of the OnBase product suite.

At the end of the loan process, Hyland's software helps lenders audit each page of the loan package before the loan is shopped off to the secondary market. The entire package is checked for data accuracy and compliance with investor requirements.