The Client
A Leading US Mortgage Correspondent Lender
Challenge
- Increase speed and throughput of purchase decisions for correspondent loans.
- Client seeking a strategic partner with mortgage domain in OCR along with strong technology capabilities to improve data and document processing.
- Absence of automated workflows, including automated qc process.
- Absence of Ai-enabled data extraction.
- Increase efficiency in trailing doc follow-up and exception management.
- Increase data capabilities with BI and analytics, as well as dashboards and reporting with rich UI/UX and scorecards for KPIs.
Solution & Execution
- OCR: Ai-enabled data indexing, classification, and extraction technology
- Copasys®: Automated QC testing platform
- Built dynamic rules to automate client’s credit and compliance QC processes..
- Created fast track workflow automation for exceptions processing and trailing doc management.
- Able to perform full population testing for all correspondent loans.
- API-enabled platform for seamless integration into client’s process
- Over 10,000 data points available for analytical review
- Built dynamic seller and buyer facing dashboards to manage production and KPIs (audit findings, SLA’s, Trailing Doc’s, etc.)
BI and Analytics:
- 3x quicker on data indexing, classification, and extraction
- 10x available data points with greater than 95% confidence
- 5x faster on identifying and clearing of conditions
- 10x efficiency for credit and compliance qc reviews with 100% coverage
- 40% overall reduction of cost through automation and ai
Value Delivered
- Improved speed to a qualified purchase decision with higher coverage and confidence at a lower cost
- 3x quicker on data indexing, classification, and extraction
- 10x available data points with greater than 95% confidence
- 5x faster on identifying and clearing of conditions
- 10x efficiency for credit and compliance qc reviews with 100% coverage
- 40% overall reduction of cost through automation and ai
