For an automation solution to deliver on what it promises, it must be built with domain expertise – not just in artificial intelligence, but also in the processes it automates. The SoftWorks AI Trapeze for Mortgage Automation is the place where mortgage and artificial intelligence experiences meet. Trapeze is a dedicated solution designed to optimize various aspects of the mortgage lifecycle, from creation to post-closure verification, by converting documents into data with the highest accuracy and speed. The solution uses advanced computer vision and machine learning to achieve the highest accuracy rates in the industry.
Trapeze uses advanced technology to automate the identification, classification, prioritization and assembly of loan packages and their data. It extracts and validates critical data from input documents with exceptional precision, helping teams approve or reject loan applications faster and with less effort. Regardless of file type, structure or location of data fields, the solution can reliably extract critical information needed to make loan decisions with exceptional speed and accuracy. Trapeze also ensures that the extracted data tells a consistent lending history by cross-checking information across the entire loan package.
Unlike standard or universal solutions, Trapeze is designed specifically for mortgages. With over 680 different documents and 6,300 data fields available out of the box, organizations can use Trapeze’s highly accurate automation capabilities in minutes. And this built-in library is constantly expanding. While many solutions are static, SoftWorks continually innovates and improves Trapeze based on industry news and customer feedback. Subscribed customers receive ongoing updates such as additional forms and data fields, increased accuracy, and new capabilities that help further automate their business.
Creating reliable data that customers can trust allows users to move valuable resources away from “look and compare” activities to more productive tasks. Employees can process more loans more accurately and in less time. By dramatically reducing the need for people to “double-check” data, customers can process more information without increasing labor and time. In addition, customers are seeing improved customer service as the solution provides borrowers with real-time feedback and confirmation when filing documents.
These customers have more than 90% end-to-end processing with 99.5% + transmission accuracy and cut processing times by up to 90%. With SoftWorks secure cloud processing, customers can dynamically increase or decrease lending in accordance with market demand. This has given them a truly competitive advantage in that they can easily handle dynamic loan volumes and significantly reduce cycle times while maintaining the extremely high accuracy rates that are so important in the mortgage industry. The speed, accuracy and high level of automation that Trapeze delivers result in increased revenue and net ROI for their clients, including some of the largest lenders in the country.
The company is in the process of releasing advanced underwriting capabilities such as income verification and asset verification, cash flow analysis, document versioning (determining final / most recent version), expanded document and field coverage, data consistency cross-validation, and tighter integrations with popular platforms. LOS.
SoftWorks AI’s commitment to 100% end-to-end processing is turning into a solution that is constantly being improved and is getting closer to truly contactless automation.
Product snapshot: Trapeze for Mortgage Automation leverages deep knowledge of artificial intelligence to optimize processes throughout the mortgage lifecycle by transforming documents into data with the highest accuracy and speed.