True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

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FintechSponsored Content

SoftWorks AI brings efficiency to underwriting

Trapeze Mortgage Analytics now includes VOI automation

Fintech company SoftWorks AI’s Trapeze Mortgage Analytics is the most advanced mortgage automation solution on the market, delivering the industry’s highest rates of touchless automation. The Trapeze platform is a solution built to streamline many aspects of the mortgage lifecycle, from origination to post-close review. In addition, the platform leverages advanced computer vision and machine learning to identify opportunities for the system to improve over time.

Trapeze for Mortgage Automation tracks every aspect of the mortgage automation workflow, providing clients with real-time data on the overall effectiveness of their operations. The platform captures thousands of unique data points and makes them available to users for database-driven query and presentation.

Trapeze optimizes the speed, convenience and efficiency of pre-underwriting and underwriting processes, with its software increasing underwriter productivity by over 100%. Despite these increases in efficiency, verification of income remains a time-consuming, expensive and error-prone part of underwriting.

That’s why SoftWorks AI developed VOI Automation for the latest release of Trapeze for Mortgage Automation. With the new VOI Automation module, underwriters can be even more productive.

Trapeze for Mortgage Automation is built on SoftWorks AI’s longtime computer vision expertise. The powerful technology enables Trapeze to visually recognize a document’s structure, including tables, images, lists and data fields. This deeper level of understanding means Trapeze enables far more accurate and efficient mortgage process automation.

By extracting and analyzing data from loan packets, Trapeze can make a number of rule-based decisions. For example, the platform can accurately and almost instantly decide whether a loan complies with various regulations and GSE guidelines. It can automatically check for inconsistencies, generate a loan summary report or apply an algorithm to determine a risk factor or interest rate for a given loan application.

“These tasks are knowledge-based, time-consuming and very often performed manually. Trapeze for Mortgage Automation automatically performs the same tasks quickly, accurately and in a way that is easily scalable. And with the addition of the VOI Automation module, the platform takes mortgage automation one large step closer to real-time digital lending,” said Ari Gross, CEO at SoftWorks AI.

SoftWorks AI’s clients appreciate the touchless automation provided by Trapeze. Trapeze for Mortgage Automation delivers the highest rates of touchless automation in the mortgage industry, meaning that more loan applications can be processed in much less time and by fewer loan officers and underwriters. Trapeze provides clients with an efficiency boost, faster turnaround times and increased ROI.

“For our clients, there is a lot of value in processing (understanding and acting on) loan packets in real-time and without requiring human involvement. With Trapeze, lenders can automatically analyze loan applications, extract applicant data, check for regulatory compliance, and now perform income verification, per GSE guidelines. These capabilities are driving loan approval times towards minutes instead of weeks,” Gross said.

PRODUCT: Trapeze for Mortgage Automation

SNAPSHOT: Trapeze for Mortgage Automation enables a faster, more accurate, and more scalable underwriting process. Trapeze automates pre-underwriting and underwriting. It converts unstructured loan documents into structured, actionable data, automatically performs compliance checks and verification of income (VOI), and enables automatic, intelligent, real-time lending decisions.

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