New York-based SoftWorks AI, a provider of artificial intelligence and computer vision technologies for the mortgage industry announced new applications for its Trapeze for Mortgage Automation solution.
At this year’s MBA Technology Solutions Conference & Expo, SoftWorks will showcase a preview of its Automated Income Analysis and Verification module. This application aims to enable automatic parsing of financial documents, including most IRS tax forms to substantially improve underwriter productivity.
A growing number of borrowers have multiple streams of income, adding increased complexity and manual labor. To better streamline the loan cycle, SoftWorks AI’s Income Analysis and Verification Module automatically fills out required cash flow analysis forms.
The company will showcase its added capabilities at MBA Tech, booth #615, from March 24-26 in Dallas.
“By combining AI and computer vision technologies together, SoftWorks can effectively auto-validate the mortgage classification and data extraction process, streamlining the loan approval process,” said Dr. Ari Gross, CEO at SoftWorks AI.
Solutions Architect Eitan Agai will preview the module during MBA Tech at 11:45 a.m. as part of the Tech Showcase. Eitan’s demo will outline the challenges today’s underwriters face and show how automated income analysis can improve their current workflow.
In addition to this new module, SoftWorks AI is also introducing its automated mortgage analytics solution to provide stakeholders with a real-time dashboard that shows Trapeze for Mortgage Automation’s day-to-day performance.
The dashboard tracks every aspect of the mortgage automation workflow, providing clients with real time data on the overall effectiveness of their operations. Mortgage Analytics can analyze thousands of data points to provide a holistic view of a system’s performance and pinpoint where additional productivity gains can be realized.
“One of the things we constantly heard from clients was that they wanted a way to track results after successfully implementing Trapeze,” Gross said. “Our analytics dashboard enables Trapeze users to understand their new business processing capabilities at a granular level.”