The company values and prioritizes the customer experience by acknowledging that the mortgage process can be inconvenient, complex and document heavy. To keep the dream of homeownership alive, Mr. Cooper is focused on delighting our customers by designing a fast, flexible experience through digital solutions that provide simplified processes and cost-effective efficiencies. This year, Mr. Cooper launched Pyro — an advanced document understanding platform — that harnesses the power of machine learning and Google Cloud Document AI capabilities to identify and sort thousands of important documents. In an extremely paper heavy industry, Pyro has pushed the boundaries of the mortgage business with the goal of providing the precise document, to the correct person, at the right time. The technology speeds document classification accuracy, improves accuracy, and extracts and distributes data to help customers get the information they need, when they need it.
- After one year of using Pyro at Mr. Cooper, the technology has processed more than 932 million pages of mortgage documents, including a backlog of documents that would have taken 4.5 years to process.
- Pyro has exceeded processing speeds of 2,200 pages per minute.
- Data shows that the technology can recognize and sort documents into pre-determined categories at accuracy rates up to 90%.
Loan Origination, Servicing