Leverage superior analytics and insights with minimal investment to improve mortgage decisions
As per a Forbes survey, 55% of respondents from mortgage companies believe that adopting AI in operations can reduce mortgage origination costs by 26%. In mortgages, where document processing errors can lead to incorrect credit decisions, it is vital to be 100% right the first time. A loan package generally, consists of hundreds of pages […]
Defining the ideal IDP process efficiency for improving ROI
Every organization is unique. From their business goals to the technologies leveraged, the people that make it, and even the culture that makes the organization alive, differs. Bringing a solution into an organization is a very involving and complex exercise. One needs to consider the organization’s and the project’s critical aspects. A solution with AI […]
Leverage the right API framework for seamless flow of data across banking systems
Working in ‘silos’ is by far not a good thing in today’s times. In fact, as we are headed towards an open banking scenario in the coming years, it is important that the financial institutions first get themselves ready for a more synchronized flow of data between their internal systems. Enormous data gets generated through […]
Maximize business returns with Intelligent document processing
‘A Dream Home’, one’s lifetime ambition is most often fueled by mortgage companies. Lenders ensure all checks and balances are done when processing documents, enabling the home seekers to inch closer to their dream. The US mortgage industry is under the constant influence of macroeconomic parameters viz. interest rates, inflation, economic policies, and geopolitical stability. […]
Automation: Key to Streamlining Mortgage Document Processing in a competitive market
“Things get done only if the data we gather can inform and inspire those in a position to make [a] difference.” – Mike Schmoker, Education Writer, Speaker. Data is the fuel that powers businesses to make informed decisions, but the critical question remains, “Is the data relevant?” For Data to be relevant, enterprises need solutions […]
How to Streamline mortgage Operations with Template-Free Document Processing
“Liberty, when it begins to take root, is a plant of rapid growth.” – George Washington. The same can be said about data these days. Today businesses have to transform with changes in the market dynamically and thus cannot afford to spend time extracting data and insights from unstructured bulk documents. Freedom from manual and […]
DocVu.AI features in Everest Group Intelligent Document Processing Products PEAK Matrix® 2022
DocVu.AI has achieved a notable accomplishment of featuring in the Everest Group’s IDP PEAK Matrix® Assessment as 1 of 5 Aspirants for 2022. Challenging the industry standards for speed and accuracy in data extraction and indexing by leveraging the power of true AI/ML, DocVu.AI’s vision and capabilities have set it to move further in the […]
Document Automation and the Future of Non-QM Loans with IDP solutions
As margins thin out, lenders are faced with the task of reconfiguring their existing cost structures while looking for alternate revenue streams. The non-QM market is emerging as a lucrative and practical solution for many. COVID-19 halted the boom of non-QM due to the liquidity constraint, however, it regained its market share and finished 2021 […]
Make data-driven decisions using DocVu.AI to improve business efficiency
In Q2FY2021, 16% of mortgage banks reported a pre-tax loss. The primary factors for that were the high cost of operations and a plateau in revenues. For the last four quarters, the mortgage industry has seen healthy growth in revenues. US mortgage banks have adopted strategies to capture mortgage demand. As revenue growth for the […]
How banks can protect mortgage margins and increase ROI
Net gains in 2021 Q4 declined to $1,099 on each loan originated, compared to $2,594 in the previous quarter, according to a report published by the Mortgage Bankers Association (MBA) on Thursday. This slide-in profitability is on a 6 quarter trend. This is due to softening demand resulting in the slide in the volume of loans. With the […]
