OneDiligence setting a new record
My OneDiligence team achieved a groundbreaking milestone with a 45-minute Full Underwriting process, setting a new record in full rated credit and compliance underwriting for loan files. This achievement signifies a significant advancement in streamlining the underwriting process, particularly in the realms of credit and compliance, traditionally reliant on manual labor and data validation.
In the past, this process typically took 5-6 hours using older systems. However, through the utilization of AI technology, the majority of data extraction is now automated, eliminating the need for manual scrolling, typing, or double-checking. Data is efficiently delivered to underwriters through a template, complete with verifiable field coordinates indicating the data's location within the document.
Our capabilities extend to the extraction of various fields from a range of documents, including CDs, LEs, HUD-1, Notes, Mortgages, Commitments/Title Policies, various appraisals, assignment chain reviews, invoices, FHA/VA documents, modifications, standard income documents, insurance policies, and Flood Certs. These processes are not only fully automated but also version controlled and signature verified.
To further enhance usability, we implement rules that highlight lending guidelines validation, facilitating the work of underwriters and loan officers. Additionally, our collaboration with Rocktop Technologies through our QCMaiven JV enables the automatic generation of servicing onboarding tape, offering a comprehensive solution for our clients.
Our commitment to AI-driven underwriting showcases our dedication to reducing costs, increasing efficiency, ensuring accuracy, and enhancing scalability within the industry. This progress marks a significant step forward in revolutionizing underwriting processes.
Exciting developments lie ahead! For those interested in learning more, I will be available at the MBA Secondary Conference, or feel free to direct message me for further insights.
Subscribe to:
My OneDiligence team achieved a groundbreaking milestone with a 45-minute Full Underwriting process, setting a new record in full rated credit and compliance underwriting for loan files. This achievement signifies a significant advancement in streamlining the underwriting process, particularly in the realms of credit and compliance, traditionally reliant on manual labor and data validation.
In the past, this process typically took 5-6 hours using older systems. However, through the utilization of AI technology, the majority of data extraction is now automated, eliminating the need for manual scrolling, typing, or double-checking. Data is efficiently delivered to underwriters through a template, complete with verifiable field coordinates indicating the data's location within the document.
Our capabilities extend to the extraction of various fields from a range of documents, including CDs, LEs, HUD-1, Notes, Mortgages, Commitments/Title Policies, various appraisals, assignment chain reviews, invoices, FHA/VA documents, modifications, standard income documents, insurance policies, and Flood Certs. These processes are not only fully automated but also version controlled and signature verified.
To further enhance usability, we implement rules that highlight lending guidelines validation, facilitating the work of underwriters and loan officers. Additionally, our collaboration with Rocktop Technologies through our QCMaiven JV enables the automatic generation of servicing onboarding tape, offering a comprehensive solution for our clients.
Our commitment to AI-driven underwriting showcases our dedication to reducing costs, increasing efficiency, ensuring accuracy, and enhancing scalability within the industry. This progress marks a significant step forward in revolutionizing underwriting processes.
Exciting developments lie ahead! For those interested in learning more, I will be available at the MBA Secondary Conference, or feel free to direct message me for further insights.
Subscribe to: