Infrrd Launches MortgageCheckai — A Comprehensive Loan Quality Control (QC) Automation Solution
2024年7月26日 - 3:00AM
ビジネスワイヤ(英語)
Infrrd, a leading Intelligent Document Processing (IDP)
solutions provider, has launched an AI-powered mortgage data
validation product: MortgageCheckai. This intelligent loan review
automation solution is engineered to enable loan closers,
post-closing reviewers, or QC auditors to perform any type of loan
review twice as fast as they do today by dramatically reducing
dependence on human “stare and compare” processes to confirm data
consistency
Infrrd, a leading provider of AI-driven document processing
solutions, proudly unveils MortgageCheckai, a revolutionary
platform designed to expedite pre-fund and post-close loan audits
for mortgage lenders and servicers.
MortgageCheckai is a game-changer in mortgage auditing,
empowering loan closers and QC reviewers to speed up loan reviews
with unmatched data accuracy while upholding the audit's integrity.
With Infrrd's cutting-edge AI technology, loan closers or QC
auditors can now achieve substantial time savings, reducing the
manual review of loan documents by at least 50%.
"Our mission with MortgageCheckai is to transform the mortgage
auditing landscape and make auditors future-ready with AI," said
Amit Jnagal, CEO of Infrrd. "We understand the hurdles faced by
mortgage lenders and servicers in conducting thorough and efficient
audits. With MortgageCheckai, we're delivering a revolutionary
solution that enables auditors to streamline their processes,
mitigate risky loan decisions, and stay compliant
effortlessly."
Infrrd has teamed up with Asurity, a leading provider of
compliance-focused services and solutions, to design
MortgageCheckai. Infrrd is applying its cutting-edge technical
capabilities to harness Asurity's extensive mortgage industry
expertise. This collaboration has allowed Infrrd to automate
laborious mortgage closings and QC processes with compliant,
complex document types, and variations in loan structures.
Asurity’s role in developing this innovative platform has
transformed it into an invaluable tool serving as a loan closer and
QC auditor’s second brain.
Luke Wimer, COO at Asurity, stated, “We are pleased to be
partnering with Infrrd as they launch MortgageCheckai. Asurity
utilizes this technology to accelerate mortgage loan closing
processes and reduce error-prone manual processes. Infrrd is
setting a new standard for efficiency and productivity enabling
customers to focus on what truly matters.”
Infrrd's MortgageCheckai platform uses patented AI algorithms to
automatically index, categorize, and scrutinize loan documents with
unprecedented data accuracy. By automating repetitive manual tasks,
MortgageCheckai empowers auditors to focus on high-impact
activities, resulting in expedited audit completion and enhanced
operational efficiency.
"The financial services industry is undergoing rapid
transformation, and by 2030 AI will change the way loans are
audited," said Amit Jnagal. "With MortgageCheckai, we're leading
the charge towards automation in mortgage auditing, setting the
gold standard for efficiency and a competitive advantage for AI
believers."
MortgageCheckai is designed to accelerate loan closings and
automate end-to-end mortgage audits supporting over 600 mortgage
document types. Some key functionalities of the product are:
- Auto-Stacking of Loan Documents: Organizes document
packages into lender-specified sequence by document type and
version.
- Advanced Document Versioning: Automatically identifies
the latest and correct version of the document.
- Reports Document, Data, and Fee Issues: Auto-detects
over 60 common issues, such as missing documents, data mismatches,
and expired CDs, and flags them for auditor review.
- Built-in CD Balancer: Automatically extracts and
reconciles estimated and final closing details from Loan Estimates
and Lender/Title Company Closing Disclosures highlighting
discrepancies and out-of-balance conditions so that users can focus
on exceptions only.
- Intelligent Data Validation: Automatically compares
digitally supplied and extracted document data across different
documents and data sources and flags mismatches.
- Change-Tracking and Audit Trails: Automatically tracks
user-driven data changes in a comprehensive audit trail including
date, user, and comments, with automatic and User-generated issue
generation and tracking.
Learn more about the product features here.
For more information, visit www.infrrd.ai or connect with Infrrd
on LinkedIn, YouTube, Reddit, and Twitter.
ABOUT INFRRD
San Jose, Calif.-based Infrrd is a leading provider of
proprietary and patented Intelligent Document Processing (IDP)
solutions, which leverage artificial intelligence (AI) and machine
learning (ML) to enable enterprises to extract and manage data from
semi-structured and unstructured documents in large volumes. Infrrd
offers pre-built, highly configurable solutions for managing
complex documents with reliable accuracy, such as invoices, claims,
and bank statements, while also allowing organizations to create
and train new models. Enterprises across the globe use Infrrd’s
solutions to enhance employee productivity, improve operations,
accelerate business scalability, reap cost efficiencies, and
deliver exceptional customer experiences.
ABOUT ASURITY
Asurity Technologies, LLC delivers compliance-focused services
and solutions to the mortgage and consumer lending industries.
Asurity’s ecosystem of service and SaaS products includes: Propel™,
a highly configurable solution for the dynamic preparation of
compliant mortgage document packages; RegCheck®, a mortgage loan
compliance solution which runs comprehensive checks against
loan-level data pulled from any integrated LOS; RiskExec®, a
state-of-the-art reporting and analytics platform helps lenders
meet demanding regulatory requirements for fair lending and CRA;
and Asurity Advisors™, helping institutions mitigate regulatory,
operational, and compliance risks while enhancing efficiencies.
Asurity is owned by its principals and employees, and operates
without the constraints of a public company or private equity
ownership. For more information about Asurity and its suite of
regulatory compliance services and products, visit asurity.com.
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Anusha Venkatesh| anusha.venkatesh@infrrd.ai | Ph: +1 (844)
446-3773