The mortgage industry is heading into 2025 at a crossroads. The long-standing struggle with unstructured data has reached a tipping point—one that demands action. While AI-powered automation, advanced analytics, and digital transformation have surged ahead, too many lenders are still stuck in the past, relying on manual processes that slow them down. The time for change is now. Mortgage lenders…
Category: Mortgage Data and Doc Processing
Posts that centralize around data and document processing for the mortgage industry. Includes specifics such as automated data extraction, document recognition, classification, versioning, data validation, OCR, Capture 2.0 and more.
Applying “Quality 4.0” to Mortgage Manufacturing
In the fast-evolving mortgage industry, operational efficiency and customer satisfaction are paramount. Embracing advanced technology, such as what is outlined in the principles of “Quality 4.0,” (1) can revolutionize how companies like LoanLogics manage quality assurance, compliance, and overall operational performance. Understanding Quality 4.0 and Its Implications Quality 4.0 is the application of Industry 4.0 digital technologies —such as predictive…
Navigating Today’s Mortgage Trends with Technology: Part 2
Navigating 2022 mortgage trends with the right balance of technology is critical for success. In my last post on August 11th, I recapped and expanded my comments on several questions originally posed by MReport on that very timely topic, in the July feature article “Mortgage Tech Update, Part 1 and Part 2.” The questions, “What can the industry expect next in terms…
Catch a Window of Opportunity with Effective Mortgage Document Processing
Looking back, It might have come as a surprise to some when in Spring of 2021 STRATMOR Group reported that somewhere between 20 and 30% of the loans sent to aggregators were not immediately purchased due to issues. No matter how you slice it – good or bad – an average of 25% is one notable percentage. Twenty-five percent chance…
Tips on Renovating Your Tech Stack
When the house you love starts to show worn flooring, loved appliances and outdated fixtures it’s time to renovate. Most of us don’t have the budget to renovate the entire house. Nor do we have the capacity to do it all at once. Neither living with mom or in a construction zone is ideal. That’s why so many of us…
5 Questions to Ask Your Doc Processing Vendor About Accuracy
Machine learning has significantly increased document processing efficiency in the mortgage industry. However, the effectiveness of any technology depends on document quality and a vendor’s ability to train machine learning models on a broad set of document types. As such, it’s wise to be skeptical of broad accuracy claims being made across the industry from start-ups and seasoned vendors alike.…