One Diligence Product Launch: Improving Monthly/Annual Statement Reviews using AI and ML Technology
Servicers and investors spend a lot of hours comparing the system dates and data dates to actual statements that are sent out to borrowers and debtors.
The purpose of the new product launch is to use AI engine automation to find the right statements and extract full data sets to compare to the system.
The comparison can happen automatically for any type of statements, creating a huge scalability option for large transactions such as loan MSR trades, credit card debt trades, personal loan trades, bank acquisitions, etc.
The automatic approach is very helpful when the transaction happens in the middle of the statement cycle with under the hood calculation for prorated amounts in comparison to system data or tapes.
You might be interested in our new Machine Learning and Data Extraction technology for statements and any other loan documents.
One of our current clients asked for the following SoW that helped us to design the system. They wanted to verify that the seller's tape at the MSR transaction was reflective of statements and documents.
Client's initial request:
1. Index/PDF bookmark the full loan file (single or multiple PDFs)
2. Find all the monthly and annual billing statements in loan file and sort by date
3. Find the billing statement at the time of the MSR or loan sale
4. Extract the data from statement and compare to servicer data tape at the time of sale or MSR transfer; for inter-month transaction, calculate the estimated UPB and compare to tape
5. Extract origination appraisal values and compare to tape
6. Extract original note data and compare to tape
7. Extract loan status with default dates from the statement
8. Flag inconsistencies through the findings and exception report
9. Low Price: Product price should be less than 1 hour of human labor
10. Scalability: Ability to run 50,000 loan files in 3-4 weeks
We have successfully built this system and would be happy to demo it for you if you are interested or have a need for AI/ML/Data Extraction technology.
Reach out to alexg@onediligence.com and schedule a demo with us today!
Servicers and investors spend a lot of hours comparing the system dates and data dates to actual statements that are sent out to borrowers and debtors.
The purpose of the new product launch is to use AI engine automation to find the right statements and extract full data sets to compare to the system.
The comparison can happen automatically for any type of statements, creating a huge scalability option for large transactions such as loan MSR trades, credit card debt trades, personal loan trades, bank acquisitions, etc.
The automatic approach is very helpful when the transaction happens in the middle of the statement cycle with under the hood calculation for prorated amounts in comparison to system data or tapes.
You might be interested in our new Machine Learning and Data Extraction technology for statements and any other loan documents.
One of our current clients asked for the following SoW that helped us to design the system. They wanted to verify that the seller's tape at the MSR transaction was reflective of statements and documents.
Client's initial request:
1. Index/PDF bookmark the full loan file (single or multiple PDFs)
2. Find all the monthly and annual billing statements in loan file and sort by date
3. Find the billing statement at the time of the MSR or loan sale
4. Extract the data from statement and compare to servicer data tape at the time of sale or MSR transfer; for inter-month transaction, calculate the estimated UPB and compare to tape
5. Extract origination appraisal values and compare to tape
6. Extract original note data and compare to tape
7. Extract loan status with default dates from the statement
8. Flag inconsistencies through the findings and exception report
9. Low Price: Product price should be less than 1 hour of human labor
10. Scalability: Ability to run 50,000 loan files in 3-4 weeks
We have successfully built this system and would be happy to demo it for you if you are interested or have a need for AI/ML/Data Extraction technology.
Reach out to alexg@onediligence.com and schedule a demo with us today!