PegaMort

Inspiration

The mortgage processing process takes so long. Further, the borrowing process to buy house is lengthened because of rising consumer demands for mortgage. The rising demand for buying houses results in more mortgage applications. 

Also, according to Ellie Mae’s March 2021 Origination Report, the average time to get from application to closing is about 51 days. Thus, there is a need to fasten Mortgage Reviewing Process. The need is to streamline the front-to-back process of getting a mortgage, with the aim of making the consumer experience smoother and faster.

Another issue we want to address is that it often takes time for renters to report repair and get the repair to be done. It may make the renters become frustrated and leave the properties. Thus, we want to speed up the rental repair report process and resolve rental management issue.

What it does

• Mortgage Reviewing Process: We offer a solution for above issues by building an app through Pega that gathers online customer data. The app sends email to customers and  streamlines the reject and approval mortgage process. It also fastens the mortgage closing process. With the help of Pega built UI process, the mortgage review timeline is fastened.

• Rental Repair Issue Management Process: We built an app (using Pega) that speeds up the repairing report by renters. Renters can fill forms for repair request online. The review repairing process becomes smoother. Landlord or property manager can gather needed info and review the process. Further, the communication process becomes better. Renters are notified on timely manner about the repair process.

How we built it

We built both our mortgage processing case and rental issue management case using the Pega Platform Centric with Pega 8.x technology.

Challenges we ran into

We had challenges to learn new technology and gain access to the development environment to build our apps and use cases.

Accomplishments that we're proud of

We were able to build our apps for two cases using Pega platform:

• Mortgage Processing
• Rental Issue Management Processing 

What we learned

• We learnt to build apps using the Pega environment. 
• We learnt to develop different processes and build workflows for the use cases. 
• We learnt to use and analyze data using Pega platform.

What's next for PegaMort

We want to build more complicated and specific cases for each situation in the mortgage or rental environments.

Built With

• pega
• pega-8.x