JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. It is a leader in investment banking; financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. It reports on six lines of business: Investment bank, Retail Financial Services, Card Services, Commercial Banking, Treasury & Securities Services, and Asset & Wealth Management.
The Mortgage Lending Correspondent department of this organization is responsible for processing of mortgage loans through the correspondent process. This is the process wherein loans are purchased from other lenders, such as other banks. The loans are received, evaluated, and either funded or rejected. If a loan is funded (purchased) the documents are sent the Monroe, Louisiana facility to be serviced. If a loan is suspended, a process is executed to facilitate correction of the suspension criteria.
The project objective was to create a single Web-based, user-friendly solution to replace the existing paper-based process. The new system would implement all necessary interfaces to legacy computer systems, as well as provide reports based on workflow history.
Download: Galantis Case Study – JPMC Home Finance