LoanLogics is often asked for specific examples of where machine learning can make impact along the mortgage value chain and of course, as a regtech provider, we have found practical application in loan quality management. Early application of machine learning technologies are being used for the creation of verified, validated data (or what we’ve termed “purified data”), that powers…
A lot has been said about machine learning and artificial intelligence (AI) regarding the sweet rewards they will bring to the mortgage industry but understanding the potential can be tricky to navigate. Before we get into dispelling the tricks or treats of some popular urban legends, here are a few quick definitions of AI and machine learning for context. AI…
The working relationship between humans and technology has achieved great heights in so many aspects of our lives. Personally, professionally, economically, even environmentally, the fluid ways we tackle tasks with technology are endless. Just ask Jeff Bezos, Richard Branson and Elon Musk who have made “consumer” space travel a reality by engineering their own spacecraft to get them there. The…
Cost overruns are plaguing mortgage manufacturing, and the prime suspect is the lack of system-driven automation. Finastra, in partnership with LoanLogics®, aims to change this with its latest enhancements to its MortgagebotLOS loan origination system (LOS). This AI/machine learning based task automation technology is designed to reduce or eliminate the manual work performed by origination staff. Embracing Mortgage Automation The…
In modern mortgage lending, industry professionals know the challenges of income verification. With regulatory demands tightening and the cost implications of loan buybacks due to verification errors rising, the mortgage software industry has needed an innovative solution. LoanBeam Income by LoanLogics is the definitive answer to these complex issues. Navigating Mortgage Software Industry Challenges Today’s lenders are pressured to adapt…
Jacksonville, FL, May 13, 2024 — LoanLogics, a recognized leader in loan quality technology for mortgage manufacturing and loan acquisition, today announced significant enhancements to its LoanBeam income calculation technologies. The enhancements will enable lenders to efficiently process income documents related to wage earners in the same service they use to process self-employed borrowers. By gaining access to all income…
