Using Kofax Solutions for Process Improvement

One of the ways the South Carolina State Housing Finance and Development Authority fulfills this mission is through the purchase and servicing of mortgage loans. The 2007 Recession resulted in decreased revenues for the department while higher default, foreclosure and bankruptcy rates increased the department's manpower cost. The agency has since acquired different servicing software which complies with current industry regulations and is once again servicing the loans that it purchases. This project is to see if the department could improve any of their overall processes by using existing technologies and software to better utilize the new servicing system while minimizing manual tasks. This paper explores whether the existing Kofax Document Recognition system could improve this process and reduce overall employee time and effort?