If you want to automate the entire mortgage process from inspection to report, DocMagic has a suite of tools to do so, designed to improve efficiency and transparency. Its digital mortgage platform includes document generation, an eSign platform and eMortgage technology for eClosings with no paper. It also includes automated compliance checks and collaborative closing technology for secure data and document sharing. The platform integrates with other loan origination systems and is designed to improve data and document integrity for faster loan closings and higher customer satisfaction.
Another option is MeridianLink, a digital lending platform that includes a Mortgage LOS to help lenders digitize the mortgage process. It can accommodate a wide range of financial products and includes tools for managing and automating loan applications, data-driven lending decisions and collections processes. It also can integrate with partners and offer educational resources to help lenders better engage consumers and cut operational expenses.
For document analysis, Ocrolus is a Document AI platform that uses AI to classify, extract, detect and analyze financial documents with high accuracy. It can help lenders assess risk and prevent fraud by extracting data from various file formats and eliminating manual review. That can dramatically accelerate and improve the accuracy of the mortgage process, leading to better decisions and efficiency.