You Wanted Innovation – How about Rocket Science in Mortgage?

April 8, 2020 – You’ve heard the remarks before… Our industry is a few decades behind others when it comes to technology advancements and innovation.’  In many cases, there is likely some truth to that.  However, the past couple of years have begun to reveal some significant progress – and we are talking much more than a simple online 1003 application, compulsory these days.

MBA NewsLink mortgage vendor news & views-1

See our article published today in the MBA NewsLink (click HERE), where I review two such innovators that look nothing like other vendors within their peer group.

  • AI, ML & RPA based Appraisal platform
  • Underwriting in seconds - NASA style

I also categorize industry innovators into three groups, for reasons cited therein:

  • The Hare
  • The Tortoise
  • The Frog

The article highlights two Frogs:

AppraisalVision from Theoris Software

  • I have yet to see any other transactional vendor platform make such effective use of Big Data, Artificial Intelligence (AI) and Machine Learning (ML).  AppraisalVision helps lenders optimize order placement to AMCs and helps the AMCs optimize order assignment to appraisers

Candor Technology

  • NASA know-how meets the mortgage underwriting process, rendering results in just seconds

That’s enough, I won’t give away any more of the article contents.  It’s interesting and INNOVATIVE stuff – a good read to see how we are making up ground in FinTech.

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