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.
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…
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…
When the house you love starts to show worn flooring, loved appliances and outdated fixtures it’s time to renovate.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…
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.…
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…
We used to hear a lot of chatter in the marketplace about “OCR this” and “OCR that” and how it’s the next best thing since sliced bread. Well, it may have been until someone came along and slathered some warm melted Kerrygold butter on it (this is not a paid advertisement) and a healthy sprinkle of cinnamon – sounds much…
