LoanLogics is often asked for specific examples of where machine learning can make impact along the mortgage value chain and of course, as a regtech provider, we have found practical application in loan quality management. Early application of machine learning technologies are being used for the creation of verified, validated data (or what we’ve termed “purified data”), that powers…
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…
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…
HMDA was back in the news this month with the CFPB’s latest ruling announced and with the year swiftly coming to a close, it is a good time to remind lenders about the rich repository of information their HMDA data contains. The fundamental principles of the Home Mortgage Disclosure Act were designed to create fair access to credit. By understanding…
Borrower satisfaction is undoubtedly still a challenge for mortgage loan servicers. J.D. Power reported in their Primary Mortgage Servicer Satisfaction Study that mortgage servicer ratings remained stagnant in 2018. Furthermore, overall ratings have hovered around 758 points on a 1000-point scale for three consecutive years.[1] The first opportunity for servicers to positively influence borrower satisfaction is during the loan boarding…
