The mortgage industry is adjusting to drastic market changes. Volume declines, macro global trends (i.e. war, supply chain) and the economy (i.e. inflation, rising rates) remain in our purview, adding to the uncertainty across industries. To realign with current volumes and offset rising costs, many have turned to staff reduction, evidenced by a survey of lenders at a recent…
It’s been an exciting three months since we launched LoanLogics IDEA™ for MSR Transfer, a new solution that automates document processing and data extraction for mortgage servicers and banks when acquiring mortgage servicing rights (MSR). Since then, we have been busy bringing on new clients to help minimize some of their operational challenges managing the receipt of data and documents…
Launched in April 2020, LoanLogics IDEA™ OnDemand, was designed to improve the speed, accuracy, and affordability of in-line mortgage doc processing. At the time of launch and ever still so, this digital assistant plays an important role cutting through the immense industry volume by using automation, not people, to classify documents and extract data. All in real-time! One of the…
Just two weeks ago, many of us were navigating the virtual halls of MBA Spring trying to get a glimpse of the latest industry technology in the exhibit halls and demos held on the HUB stage. We hope you found time to come see us at the show. During the event LoanLogics® featured: LoanLogics IDEA™ OnDemand in a demo –…
At the height of the pandemic, LoanLogics launched IDEA OnDemand, a cloud-native doc processing digital assistant which helps mortgage companies lower the cost and drive up the speed and accuracy of in-line, real-time workflows. Feedback from newly signed clients and those experiencing the product in our try before you buy program has been overwhelmingly positive. Even with this response,…
After a few months of a pandemic-driven hiatus, the excitement for non-QM loans is brewing again among originators and investors alike. This of course is also good news for the many borrowers that don’t fit into a traditional credit box but would like to take advantage of historically low interest rates. Among this happy crowd are self-employed borrowers, who represent…
