en / nl / sk / be

Mortgage Origination, Servicing and Recovery

Davinci holds expertise in automation of the entire mortgage loan life cycle including origination, servicing and recovery services. Close Suite is an advanced mid and back office solution specifically designed for digitization of the lending process from application entry, underwriting, to contract servicing and recovery management. The solution and its modules are fully cloud enabled and will be delivered as (certified) SaaS.

Close Origination


Close Servicing


Close Recovery


Close Origination

Mortgage providers face challenges which cause potential clients to drop out of the onboarding process. These are processes that take too long or do not provide the applicant with a proper insight into the mortgage application process. Traditionally, it can take more than 20 days to grant a mortgage loan. Consumers need to go through a long manual process with many steps until they are finally given any feedback on their mortgage application. The leading reasons for delays in mortgage origination are manual checks on client identity and credit checks and manual analysis of mortgage loan related documents.
READ MORE on Automated document processing (STP)

In Close Origination, almost the entire mortgage application process is treated automatically, 24 hours a day, 7 days a week. This enables any mortgage provider to maximize the straight through processing ratios, increase effectivity and boost profits. Applicants are informed about the success of their mortgage loan applications within several minutes after submitting them via a portal, website or advisory software (via HDN). Within Close Origination, the application is processed in 10 steps ranging from automatic data extraction of IDs, salary slips or bank statements, checks with internal and external sources, automatic and manual assessment of the application and the eventual offer and payment. All conventional mortgage products are supported.

Our expertise in mortgage origination involves full knowledge of the Dutch and Belgian regulations and legislation, knowledge and connection to BKR (Bureau Kredietregistratie - largest credit information database in the Netherlands) and NBB (National Bank of Belgium), handling stipulations (Dutch and Belgian documents), fully understanding what risk analysis means and understanding the Dutch and Belgian lending market both from the customer and broker (branch) lending point of view.

Close Origination enables your organization to excessively shorten the mortgage application process, keeps the applicants informed about the status of the application throughout the whole process, and provides them with an answer on their loan application within several minutes.


Why Close Origination?

  • 24/7 straight through processing in mortgage origination
  • Complete digital client dossier creation
  • Minimal turnaround time from application to mortgage proposal
  • Significant document processing time reduction
  • Compliant with the Dutch and Belgian legislation and regulations (MCD-proof)
  • Automatic checks with BKR/NBB, SFH, AFM and NHG
  • Flexible solution with optimal match for specific scenarios
  • Easy integration within current IT infrastructure
  • Suitable for direct distribution channels and intermediaries (HDN)
  • Easy communication via ECH (mortgage communication norm)

10 Steps in Loan Origination

1.

New application is created.

A new loan application is received in Close Origination from a web, mobile or any front office application. This can be done via a web service or HDN interfaces so both intermediaries and dealers can be served in this process.

2.

Internal sources are consulted.

Mortgage application is enriched with data from internal sources (for example the client’s CRM system) to execute the necessary verifications. Besides that, an AFM-register check on the intermediary licenses is performed.

3.

External sources are consulted.

Mortgage application is enriched with data from external sources (among which BKR, SFH, EVA, VIS, NHG, KvK, Calcasa, NBWO and Kadaster checks are performed) for the purpose of compliance, fraud prevention and creditworthiness evaluation.

4.

Initial assessment.

The mortgage application is automatically reviewed based on the results from the preceding steps, loan capacity calculation (LTI and LTV) and previously determined business rules (acceptance policy). If desirable, intricate applications can be assessed manually. Subsequently, the stipulations list can be generated and sent (through HDN). Optionally, depending on the design of the MCD processes, the indicative proposal can be sent.

5.

Evaluation of stipulations.

Stipulations such as ID, proof of income, bank statement, proof of living costs, etc. are processed. This includes the stipulations being checked on fraud and consistency.

6.

External sources are consulted.

The information in the client file is validated once more against external sources based on the client’s choice (review of step 3).

7.

Final assessment.

The entire client file is evaluated for the last time based on the data retrieved from the preceding steps, calculations regarding loan capacity (LTI ad LTV), as well as the previously determined business rules (acceptance policy). The final consent is given manually, by means of the mandatory 4-eye-principle.

8.

Mortgage offer is sent.

After the final consent, the definitive offer (consistent with MCD regulations) is dispatched. After the signed form is received back and acknowledged, instructions for notarial actions are forwarded.

9.

Transfer.

The final interest rate and possible renewal fees are calculated. As of 2016, it’s possible to prepare funds through ECH. In addition, the mortgage can be registered with the NHG.

10.

New contract is sent to back-office.

Data for contract administration is collected and the whole client file is forwarded to the back-office application.

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Close Servicing

Mortgage loan servicing is characterized by high volumes that need to be processed with pinpoint accuracy, quick reaction time to customer enquiries and high flexibility level to adapt to changing legal inquiries. This all needs to be delivered in a stable, secure and performant environment. With Close Servicing, all servicing processes of mortgage loans are processed automatically, which increases straight through processing ratios and reduces overall processing times.

Close Servicing supports all servicing processes from the opening of a loan until the final payment. Both periodic and recurring activities such as calculating and charging of due dates or interest on arrears, as well as the occasional, incidental activities such as early prepayments or intermediate rate revisions are being conducted in the contract administration and financial sub-administration of the solution. Special servicing activities are covered by the Close Recovery module.

Close Servicing enables your organization to accurately handle the servicing processes with a significantly reduced need for manual intervention in the process.

Why Close Servicing

  • 24/7 straight through processing in mortgage servicing
  • Detailed insight into contracts and financial history
  • Integrated financial administration for complete control over the financial flows
  • Multi label and multi funder contract administration with securitization support
  • Integration with BKR/NBB and NHG
  • Full integration into mobile banking platform/portal enables for active involvement of clients in the process
  • Flexible solution with optimal match for specific scenarios
  • Easy integration with current IT infrastructure
  • Support of SEPA direct debits
  • Configurable authorization matrices for customized access
  • Separate submodule for the administration of all types of collaterals

Schedule a one-on-one demo

Speak to our consultants about how we can help you reach your goals and schedule a free demo.

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Close Recovery

Financial organizations are often confronted with debtors failing to make required payments. In order to minimize credit loss and be in control of credit risk, an efficient recovery management system is important. In Close Recovery, all special servicing and legal processes for defaulting mortgages are managed automatically which allows for straight through processing and an increase of recovery ratios. The module also helps to accurately predict workload and minimize collection costs.

Close Recovery supports arrears and collection processes for all types of mortgage loans. When it comes to recovery success, personalized and custom-made collection strategies are proven to be most effective. Close Recovery enables the collection department to apply more pro-active approach based on profiling and risk analysis. The approach can be adjusted when specific situations occur in the process. Besides that, for each dossier, third parties such as administrators, notaries, lawyers and debt counseling agencies, can be granted access to keep track on agreements.

Close Recovery enables your organization to manage an increasing number of cases at the same cost, or to service the existing volume at a lower cost.

Why Recovery Close?

  • Minimized credit loss and improved customer service
  • Optimized recovery ratios and workload
  • 24/7 straight through processing in the recovery process
  • Customized approach based on profiling and history
  • Smooth collaboration with all stakeholders in the collection process
  • Full integration into mobile banking platform/portal enables for active involvement of clients in the process
  • Direct anticipation on different situations in the mortgage loan liquidation process
  • Flexible solution with optimal match for specific scenarios
  • Easy integration with current IT infrastructure
  • Configurable authorization matrices for customized access

Schedule a one-on-one demo

Speak to our consultants about how we can help you reach your goals and schedule a free demo.

Request demo