Post-close verification isn’t just a compliance requirement, it’s a valuable tool for identifying data inconsistencies, enhancing risk management, and improving loan quality. At LoanLogics, we’ve been closely analyzing QC reverification trends, and the data from July through December 2024 offers powerful insights. In this post, we examine how reverification trends serve as indicators of loan integrity, share results from our…
Category: Uncategorized
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 term…
Breaking the Mortgage Bottleneck: How Automation Conquers Baumol’s Cost Curse
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…
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.…