Mortgage Automation: Shaping the Future of The Mortgage Industry
The lending industry recognizes the importance of digital transformation and has made significant progress, especially during the pandemic. In its second-quarter earnings, Rocket executives said that going into 2023 they’re “putting a big chunk of capital [into] internal investment in technology” to save money in the long term. However, the mortgage industry remains highly paper-intensive, […]
From Snail Mail to Supersonic
With thinner margins, companies seek to provide differentiated customer offerings while ensuring their operations are at their peak efficiencies. As per Gartner, by 2030, 80% of heritage financial services firms will go out of business, become commoditized or exist only formally but not compete effectively. These firms would struggle for relevance as global digital platforms, […]
Why mortgage servicing companies must Invest in regulatory compliance to mitigate risk.
According to a recent report from the CFPB, Mortgage Servicers are struggling with their loss mitigation programs, call center response times, and unreliable systems that are not producing consistent data. Another report also reveals that in the past few years, mortgage servicers have lost billions of dollars due to non-compliance and inadequate regulatory controls. It […]
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 […]
Discover and Demystify Mortgage Intelligence to boost efficiency with DocVu.AI
Artificial intelligence is already here Artificial Intelligence (AI) is everywhere around us, from voice recognition software in your mobile phone to navigations in car. Even Google uses Artificial Intelligence for its search engine. Netflix, amazon prime movie suggestions are based on Artificial Intelligence. Interacting with Siri, Alexa, Google assistant is also a form of Artificial Intelligence. The goal of Artificial intelligence […]
How Mortgage Intelligence improves Mortgage Document Processing capabilities
AI & ML are important means to bring the next level of improvements in mortgage operations. In mortgage document processing, the buzzwords are AI & ML capabilities however the maturity is low and the scope is undefined. DocVu.AI’s Mortgage Intelligence is AI & ML customized for document processing for Mortgage. Mortgage Intelligence can improve specific […]
What is the best document processing tool for mortgage providers?
Document processing is a big part of mortgage processing. Mortgage documents are categorized and the required information is extracted for the mortgage underwriting process. There are a few options available for document processing. Our objective here is to list out the top advantages and disadvantages that each type of Document processing player provides so you […]
