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How Do Brokerages Automate Document Collection?
The Short Answer
Automated document collection replaces four manual steps: requesting the document, tracking what's missing, sending reminders on a schedule, and filing it once it arrives, all without a person doing any of it by hand. Most brokerages automate this first, since it's the single most repetitive task in the file and needs the least change to their existing process.
What documents does this usually cover?
Pay stubs, T4s or W-2s, bank statements, and anything else a lender needs before a file can move forward.
What happens if a borrower ignores every reminder?
The file gets flagged for a person to step in, rather than sending reminders forever. Automation handles the routine chase, not the judgment call on when to escalate.
Does this work with our current LOS?
Yes. It's built to connect with the loan origination system a brokerage already runs, rather than requiring a switch.
How long does this take to set up?
Document collection is usually the fastest automation to build and put live, since it needs the least change to the existing process.
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