Why should mortgage lenders choose mortgage IDP over generic IDP?
What do you get from intelligent document processing (IPD) solutions that are specially designed for the mortgage industry or should you go for generic IDPs that can be configured for Mortgage. Well there is no simple answer to that. Both have significant benefits and both have drawbacks. Let’s start with the Mortgage specific IDPs Mortgage […]
Maximizing the ROI of your RPA investments with IDP solutions
Business process which involves documents need robust Intelligent Document Processing (IDP). The documents could be structured, semi-structured, or unstructured. The common goal is efficient classification and extraction of information. The advancement in computer vision, Artificial Intelligence, Machine Learning, and NLP techniques has provided the much-required lease of life to the legacy OCR / ICR solutions […]
How to know whether your IDP solution for mortgage document processing is accurate?
Intelligent document Processing (IDP) is a technology that is helping companies in various sectors unlock the power of data hidden in the various documents involved in their process. It is a combination of different components like OCR, Business rules, Business process management and Analytics. But primarily the functions of an IDP lie in understanding the […]
Why you should Avoid False Positives Impact in Mortgage Document Processing
Why you should Avoid False Positives Impact in Mortgage Document Processing Why you should Avoid False Positives Impact in Mortgage Document Processing As a wave of automation sweeps into our world, computers will play a very important part in enterprise and consumer industries. In enterprises digital automation can play an important role in: – reducing […]
How to make mortgage lending process more efficient with AI & ML
In today’s evolving mortgage ecosystem, advanced technology is a must-have to successfully process huge volumes of loan applications. On average, the time taken to close loans is 47 days, according to Ellie Mae Origination Insight Report Data. However, consumers expect much quicker turnaround times. Automation technologies like Artificial Intelligence (AI) and Machine Learning (ML) are […]
Tackle Origination Costs this 2021- Leverage Tech
Mortgage origination is a labor-intensive as well as time-consuming process. On average, it takes anywhere between 35 to 40 days to close a loan. The need of the hour in 2021 is a strong mortgage processing solution that can help tackle and manage origination costs. Mortgage lenders target closing as many qualified mortgage loans as […]
How 2020’s Key Learnings can Help Lenders Plan Robust Future Strategy
With historically low rates giving rise to a refinance boom and huge demand for homes, several mortgage professionals saw 2020 as their best year. Home prices are growing at their maximum pace since 1991. As per data from the National Association of Realtors, millennials’ share of mortgages recently surpassed 50% for the first time ever. […]
How the US Housing Market will React to a COVID Vaccine
On December 14, one of the biggest vaccination campaigns in the history of the United States kicked off as health workers readied to receive the COVID-19 vaccine. A month later, the vaccine rollout across the country is undergoing some last-mile logistical issues trying to provide the shots to a maximum number of people. However, the […]
What is expected in Residential Mortgages & Housing Market under Joe Biden’s rule
Later this month, the 46th president of the United States, Joe Biden takes office. It remains to be seen what he will do to shape up the housing market in the country. Joe Biden’s immediate concern is going to be addressing peoples’ anxieties about paying rents and mortgages. Among the first few issues to focus […]
