Real-time, customizable reporting is of course is every quality control (QC) managers dream. A click here, a drag and a drop there, and at your fingertips is a unique picture of your loan quality performance ready to share with the business. Even with so many options in on-demand reporting, we still have our favorites that every QC manager should take…
AI, ML, ADR, ADE, OCR.…with all these acronyms even the most tech savvy lenders need a little help boiling down the alphabet soup of technologies swirling around the mortgage industry these days. Before you can truly understand how these intelligent solutions are solving the challenges in mortgage data and document processing, it’s important to understand the basics. As such, we’ve…
Back in August, LoanLogics announced it was the technology provider behind the Freddie Automated Servicing Transfer (FASTSM) tool, helping Freddie Mac streamline its Cash-Released XChangeSM program. LoanLogics is also set to provide technology enhancements in support of Freddie Mac’s Co-Issue XChangeSM with the same technology. This was a proud moment for the company, given all the hard work our teams…
Welcome back to the final installment of the series. Read on to see insights to other Millennials’ experiences. As frustrating as the actual mortgage process was, due to all the complexity, the back and forth with the loan processor and the loan officer, and attempting to get all the explanations of everything that was unfamiliar to me, I’ve been in…
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…
In today’s mortgage industry, loan quality is best assured throughout the process, not after the fact. The reason the regtech solutions are taking off is because lenders are slowly realizing they need to tackle loan quality issues as they happen, from the point they begin gathering information to create a loan file through closing. The business risk of producing bad…
