Yesterday, LoanLogics announced a new product to the mortgage industry, LoanLogics® IDEA™ OnDemand. It has been designed to bring superior accessibility, automation, accuracy and price performance to inline doc processing during loan production. This innovative capability takes our decade of doc processing services and technology experience and delivers it in the form of a turnkey, cloud-native digital assistant. As…
The idiom, “it all comes out in the wash”, according to one of two Merriam Webster definitions, is used to say that the truth will be known in the future. The same can be said about what will come out in an effective loan quality management process. Pre close reviews can be thought of as “pretreatment” of loan file data…
In case you missed it (ICYMI) at the tail end of 2019, LoanLogics CEO, Bill Neville, provided commentary to Rob Chrisman, widely read industry commentator and veteran, about the 2020 outlook for the mortgage industry. And just this month Bill did a detailed Q&A with the popular MBA Newslink® expanding that conversation even further. The main message throughout both…
The benefits of leveraging artificial intelligence and machine learning in mortgage are expansive. We’ve discussed it in a number of LoanLogics blog posts throughout 2019. To summarize, they help today’s originators analyze large data sets, automate decisioning and eliminate a wide range of manual tasks. Perhaps most critical is how they can help originators streamline document processing to lower manufacturing…
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…
