Home Point Financial, a national mortgage originator and servicer, announced Monday it is partnering with Capsilon, a provider of mortgage automation software, to reduce risks and boost productivity in the loan process.
The integration directly embeds the Capsilon IQ platform with Home Point’s Automated File Intake, improving operational efficiency and delivering a better experience for clients, the companies explained in a press release.
Home Point Financial Chief Capital Markets Officer Maria Fregosi said Capsilon has been an innovative partner throughout the integration process.
"Their understanding of the mortgage business helped us build a customized solution that boosts productivity across channels," Fregosi said. "We look forward to continuing our relationship with Capsilon to help provide a better experience for our lender partners."
Home Point explained that for most correspondent lenders, onboarding loans for purchase review requires significant manual "stare and compare.” However, Capsilon’s technology reduced delegated correspondent purchase review time by 33% and expanded its business by automating manual work, according to the company.
Capsilon Chief Operating Officer Jim Obsitnik said Home Point Financial is changing how mortgages are delivered.
"We're thrilled to partner with them to help deploy a new way of operating that harnesses the power of data to improve the mortgage process,” Obsitnik concluded.