Mortgage Tech News Roundup: September 23
The upgraded version of AuditGenius leverages the company’s “Genius” technology stack – a blend of interconnected and proprietary technologies – to help AuditGenius users meet extremely stringent quality control requirements. At the same time, the technology is designed to reduce the need for excessive manual reviews and re-reviews.
“In today’s mortgage market, lenders want to increase quality control without increasing the number of resources,” said Rachael Harris, senior vice president of product management, in prepared remarks. in-depth audits and pre-funding of large-scale loans, proactively capturing flaws in data and documents that could otherwise lead to redemption risk.
Staircase has launched a new tool designed to help private mortgage insurers instantly automate the underwriting of non-delegated mortgage policies for lenders at what it claims is half the typical cost.
Called MI Underwriting, the tool fully automates the non-delegated underwriting process by pulling documents and data directly from lenders so insurers can make instant underwriting decisions. It also comes with built-in quality control reviews. Plus, it leverages technology from Staircase Loanboarding, which uses machine learning tools to turn raw loan documents into unstructured data.
Staircase is a low-code API and marketplace that automates complex technologies and makes them self-service in the US residential mortgage industry.