Origin8 Case Study
Origin8 is a loan origination software for real estate investments.
A Real Estate Owned [REO] is for an Account Executive, borrower, or other individual to enter in property experience to qualify for a tier level and determine future outcomes of the loan.
Designed for Civic Financial Services.
REO Problems
Several known problems faced the team:
Entered information not transferring from Origin8 to Encompass, causing manual entries for critical information. This meant increased time spent on loan initiation.
Employees were getting locked out of the page and were unable to go back or save.
Missing important information, causing back and forth between two software.
Wrong UI kit.
Previous REO
User Thinking
Using Design Thinking as a compass to navigate through user difficulties, it is important to note that there were countless meetings with stakeholders to identify & empathize with the user.
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I am a user who needs improvement on the overall functionality of the REO process of letting users enter property information to qualify for their tier level.
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As a Transaction Coordinator, I am receiving an excel sheet & am manually having to enter in information into each field in Encompass, increasing time to process a loan.
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As a borrower, I’m getting timed out of the REO page and am unable to go back in and edit the information.
The next step was to create the current user flow and the ideal user flow of multiple personas, tier levels, and type of borrower.
More Reqs & Needs
New Fields
The new REO would require 11 new fields to filter into a table: ownership status, ownership %, property type, investment type, rehab cost, disposition date, disposition price, market value, gross rental income, acquisition date, entity/name on title, and purchase price.
Borrower Requirements
Require the borrower to manually enter in each property address, and pull from BK to receive correct property profiles.
Data Transfer
The data entered in the current REO does not transfer over to the other software due to the excel sheet upload. Need a solution to make the data transferrable.
Prompts
Need a user prompt to enter in all property experience and the required fields.
Auto-Populate
A repeat borrower’s property information needs to auto-populate from their file.
Purchase
Purchase properties versus refinanced properties and how they affect the flow.
Ideal User Flows
Next came the designing of the REO screens.
The Result
The solution consisted of fifty-six screens including: a UI update, 11 new text fields, ability to pull a property profile, rid of excel sheet uploads, manual entry, auto-populate repeat borrower property info, purchase properties, and ability to view expired properties.
Tier 2 Summary
Tier 1 Borrower
Tier 1 Wizard
Tier 1 Wizard