Are Your Robots Failing You? A Guide to Overcoming Mortgage Processing Challenges

Loan file review is the most critical stage of the loan process. A single mortgage loan file can contain over 100 diverse loan forms and documents. This is an incredibly labor-intensive process prone to human and software errors. If anything goes wrong at this stage, the rest of your business is affected.

To automate the process, some companies have deployed OCR (Optical Character Recognition) or RPA (Robotic Process Automation) software, but the results have not been acceptable. It can take months or even years to train the software before it is useful for production. Even then, there are still far too many exceptions requiring human intervention, and that defeats the purpose of RPA.

This eBook addresses the challenges faced by legacy OCR and RPA and then focuses on how Cognitive Capture Software (CCS) addresses and overcomes these challenges.

Publisher: Parascript
By: Dan Lucarini
Date: April 2021

Popular White Papers

How investing in a variety of servicing technologies streamlines operational efficiencies

As servicers contend with a possible increase in delinquencies, one of their biggest concerns is the cost of compliance. Staying compliant can be costly, and technology can certainly assist in those efforts. Among technological acceleration, how can servicers be sure that they are selecting the right servicing technology partners and tools? They must look at […]

Featured Content

The future of QC: AI, innovation and the human element

As lenders look to modernize their quality control operations, many are exploring the potential of artificial intelligence to streamline processes, improve loan quality and reduce risk. In this executive conversation, HousingWire spoke with Trevor Gauthier, CEO of ACES Quality Management, about how QC has evolved over time, how AI is reshaping expectations and what lenders and servicers should be doing now to prepare for what’s ahead.