Baumol’s Cost Disease is a well-known economic theory by economists William Baumol and William Bowen that explains the paradox: why do costs continue to rise in labor-intensive sectors even as manufacturing and technology become more efficient? As productivity increases or wages decrease across industries due to advancements in technology and productivity in other sectors, those industries that rely heavily on…
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Transforming Mortgage Processing: How Finastra and LoanLogics are Automating Mortgage Origination Together
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…
The Role of Automation in Loan Processing Efficiency
Speed, accuracy, and compliance are crucial in today’s fast-paced mortgage lending environment. Lenders must balance processing efficiency with stringent regulatory demands while delivering exceptional borrower experiences—all without inflating operational costs. However, traditional manual methods often introduce delays, errors, and risks. Automation transforms loan processing efficiency, and LoanLogics leads the way with solutions like LoanBeam Processing Automation (LBPA). Let’s explore how…
Loan Defect Trends 2024: Key Insights from the 12-Month Rolling Report
Mortgage lending can be tricky; even small mistakes can create big problems. A miscalculated escrow payment or missing paperwork might not seem like a big deal, but these issues can lead to compliance risks, unhappy borrowers, and higher costs. To help lenders tackle these challenges, LoanLogics analyzed common loan defects from our Quality Control production group over the past year.…
LoanLogics Launches LoanBeam Process Automation: AI-Driven Innovation Redefines Mortgage Processing for Simplicity and Speed
FOR IMMEDIATE RELEASE Jacksonville, Florida – January 6, 2025 – LoanLogics, a leader in digital mortgage solutions, unveiled LoanBeam Process Automation (LBPA), an exciting addition to its trusted LoanBeam product suite. Designed with proven AI and automation technology, LBPA transforms mortgage processing by simplifying time-consuming tasks like income calculation and document/data validation—delivering faster, more accurate results for lenders and borrowers alike. “LoanBeam…
LoanLogics’ LoanBeam Income Technology Integrates with Fannie Mae’s Income Calculator to Streamline Mortgage Processing
Seamless Integration of LoanBeam and Fannie Mae Income Calculator Revolutionizes Income Assessment for Self-Employed Borrowers, Enhancing Efficiency, Compliance, and Confidence for Lenders Nationwide. JACKSONVILLE, Fla., October 28, 2024 – LoanLogics, a recognized leader in loan quality technology for mortgage manufacturing and loan acquisition, is thrilled to announce the integration of its LoanBeam Income technology with Fannie Mae’s Income Calculator. This collaboration…