ACCELERATE MORTGAGE PROCESSING
Cost effective, fast and easy
WiseTrend supports a variety of real estate, financial and mortgage industry solutions for banks, mortgage originators, and mortgage lenders. These solutions address a variety of processes for loan qualification, account openings, payment options, escrow management and mortgage closings
Mortgage Processing Document Classification
Mortgage loan document capture involves two main steps, document classification and then data extraction. With some loans exceeding 500 pages and over 100 document types, a manual organization of these papers is typically time-consuming and labor intensive. WiseTrend can identify, classify and organize loans faster and more accurately than any human. We have customer examples of this automated processing at over 20x the speed of manual human classification. Many competitive software solutions require barcode separator sheets used for document identification to be manually inserted into a mortgage package before scanning. This slow, manual process is not necessary with WiseTrend, which handles the entire loan efficiently and quickly without this extra step.
The key to a loan is the data held within the documents. Manual data entry from these documents is slow, error prone and expensive. WiseTrend’s mortgage data extraction can identify, extract and validate hundreds of key fields within a package in a fraction of the time and cost of manual data entry. During loan classification and data extraction, validation is available for documents that hit a low confidence threshold. If any documents or data fields are questionable, a human can interface with the process and either validate, correct or append any questionable automation results. Extracted data can easily be normalized and sent to your Loan Origination System, allowing endless data population and validation options.
Mortgage Processing Automation Benefits
WiseTrend empowers lenders and mortgage originators in several ways by providing the tools for closing loans faster with less manual effort while pinpointing and eliminating process bottlenecks to yield higher data accuracy. Our software helps you meet stringent SLA goals, yields payback in months, not years and enables audibility and compliance review.
Once the capture process is complete, documents and the resulting metadata can be released into your LOS and document storage solution. Be it an off the shelf solution or custom developed application, WiseTrend’s open platform provides data and document images (TIFF or PDF) that release in a format compatible with almost any back-office solution on the market today.
Software that learns from experience
Recognizes, sorts and extracts data from unstructured documents, and interpreting its data, while simultaneously validating it faster than any employee.
Significant Cost Savings
A zero footprint thin-client architecture for Windows and Linux environments without the complex pricing books that charge for individual functions, additional languages and page processing tiers. WiseTrend provides all functionality in a simple price per CPU model that is often dramatically lower than price per piece alternatives.
WiseTrend is the only document capture and extraction system to employ APIs, which make ERP, CRM, document management and other back office and personal productivity programs document capture enabled.