Edison, NJ-based Indecomm Global Services, provider of automation, outsourcing, compliance services, and technology for the U.S. mortgage industry, announced the release of DecisionGeniusTM, a mortgage automation solution that assesses income, credit, assets, and collateral of a borrower to deliver comprehensive decision-making for mortgage loan applications.
DecisionGeniusTM is the latest release in Indecomm’s mortgage automation product suite, which includes two predecessors: AuditGeniusTM, a quality control, and risk management software, and IncomeGenius, an automated income calculation software. These successful platforms, already in use by major mortgage bankers processing more than a million mortgage transactions, provide the foundation and intelligence for the holistic DecisionGeniusTM automation approach for the mortgage middle office.
Users will see all the information needed to make an underwriting decision in one place, comparing application data to sourced data to investor guidelines. For example, a loan application file is submitted to DecisionGeniusTM as it is submitted to Processing. As a result, the Processor has a clear idea of which items will meet underwriting guidelines and where the focus remains. Underwriting then has a clear roadmap into what will be needed to close the loan quickly and efficiently while providing a consistent risk-reducing approach. This automated triangulation delivers the following benefits:
• Average reduction of more than 60% of the time spent by underwriters in reviewing conditions, validating data and documents provided by borrowers, and/or third parties backed up by digitized data and system-driven validations.
• Average reduction of more than 50% of time spent by processors preparing the file for underwriting in verifying and validating information from 1003 against documents provided by the borrower and information sourced from third parties.
• Average reduction of 50% of the number of times an underwriter touches a file.
“The development of DecisionGeniusTM represents the natural progression of Indecomm’s mortgage automation maturity,” says Rajan Nair, CEO of Indecomm Global Services. “We combine income calculation and risk management information with data from the loan origination system and underwriting guidelines into the larger automated decision management framework. It is then triangulated to make the data easier to consume for decision-making. It is intelligent automation that is closer to human intelligence, improving our client’s middle-office processes and ultimately enhancing the borrower’s mortgage banking experience.”
With DecisionGeniusTM, mortgage lenders will be able to reduce risk with consistency in underwriting decisions, reduce cycle-time and underwriter touches, increase pull-through rates, and improve processor productivity.
To learn more about DecisionGeniusTM and how you can benefit from the automated combination of income, credit, assets, and collateral for cohesive, comprehensive decision-making, visit DecisionGenius.com to schedule a demo.