Developing Innovations That Improve the Transparency and Accuracy of the Mortgage Process: LoanLogics

Modern mortgage lenders are currently faced with more challenges than ever, as business becomes tougher to manage in the face of increasing operational and regulatory changes. Coupled with the fact that most lenders continue to rely on ancient infrastructure and legacy systems which still rely heavily on manual processes and one can understand why so many small to medium scale mortgage lenders have to shut down their shops. Instead of being able to focus on process improvement, better customer experience, and analytics, most mortgage lenders instead spend their time and budgets on managing repeatable, but simpler processes. In this customer-driven and rapidly evolving landscape, mortgage lenders need to cater to tech-savvy clientele who need information at the tip of their fingertips. Loan process automation, also known as robotic process automation (RPA) can help solve these challenges while leveraging state-of-the-art software routines to streamline their operational processes.

LoanLogics is one such mortgage loan quality automation provider. It is the only mortgage quality control company that can automate document processing to deliver purified loan file data for automated loan quality audit and due diligence reviews required in the loan manufacturing, acquisition and servicing process. As a mortgage loan quality automation provider, LoanLogics is focused on developing innovations that improve the transparency and accuracy of the mortgage process and the efficiency of loan commerce.

Revolutionary Mortgage Automation Products and Services Offered

Advanced machine learning automation: Mortgage data and document processing services that use OCR technology alone are limited in performance and often require a great deal of human intervention. LoanLogics IDEA technology automates the granular classification and indexing of all digital images, as well as scanned mortgage documents using automated document recognition (ADR). Powered by advanced machine learning, its decade of mortgage industry experience and a robust document repository, they train their technology so you don’t have to. As a result, its doc processing software can handle more mortgage document types, both structured and unstructured, and document variations, delivering greater accuracy for mortgage document classification right out of the gate.

LoanHD®: It is data-driven digital technology that delivers lasting impact to loan quality through the automation of audit tasks, a structured workflow to find and fix defects and comprehensive reporting to understand the root cause of issues and take corrective action. The LoanHD platform does that and more using purified data to signal defects and manage risk in Pre-Closing, Post-Closing, HMDA, TRID and Pre-Funding audits. Real-time, scalable efficiency focuses audit staff on exceptions and creates greater transparency into loan quality. Few would argue that regulatory obligations have made the job of ensuring loan quality tougher and more expensive over the past decade. Investor scrutiny is now on par with regulator examinations and borrowers are demanding more from the origination process. This trifecta of pressures is why lenders continue to turn to LoanLogics’ flagship product, LoanHD, to enable more accurate, efficient, transparent audit reviews.

MERS® Compliance: Lenders can optimize the management of their loan servicing strategy, whether retaining, releasing or managing some combination of the two with MSR technology automation. The transition from seller production systems to servicing systems needs to prioritize efficiency accuracy for loan boarding. As lenders and servicers expand and contract their servicing portfolio, the acquisition process across sellers and buyers can be normalized through an automate first approach that verifies and validates the existence of data and documents commonly used in MSR acquisition. LoanLogics' capabilities for automated document recognition and data extraction services can help mitigate risk, minimize the human element and streamline transactions for MSR acquisition.

The Visionary Leader Upfront

Bill Neville is the Chief Executive Officer of LoanLogics. He is responsible for overseeing all company operations, technology and software development, and leading the strategies that continue the company’s rapid growth as a regtech technology provider. In addition to his executive role, he is also a member of LoanLogics' Board of Directors.

Mr. Neville has more than 25 years of experience in the financial services industry. Most recently he served as president of North America for Finastra, one of the world's largest fintech corporations. Prior to Finastra, he served as a board director and later president of U.S. business to its predecessor company, D+H, where he played an important role in the company's acquisition of various companies including Mortgagebot, Avista Solutions and Harland Financial. He also served as managing director and head of Citi's North American hedge fund servicing business, as president of BISYS Alternative Investment Services, and as group president of BISYS Banking Solutions Group. Earlier in his career, Neville held senior positions at several technology companies, including IBM.

Bill is a veteran of the U.S. Navy and holds an MBA from Suffolk University's Sawyer School of Management.

“Our mortgage audit software and services automate loan quality management processes, validate compliance and optimize human capital requirements for residential mortgage lenders, servicers, insurers, and investors.”