Paradatec’s cloud-based document processing technology has made an enormous impact on lenders, servicers and investors of all sizes. Read their stories here.
This midwestern regional lender had attempted to use OCR for Automated Document Recognition (ADR) in the past, but due to poor experiences, was still relying on human labor.
Paradatec’s pre-built, out-of-the-box mortgage logic was able to understand the vast majority of their document types, allowing the company to rapidly develop a customized ADR solution to their specific needs.
This lender continues to process millions of images annually, significantly more accurately and faster, and with much less direct labor.
This top 5 loan originator had in place a sophisticated document capture infrastructure feeding a well-known enterprise content management system. What was missing from this infrastructure was an advanced recognition module that could deal with the document variations that came with doing business nationwide.
Paradatec provided document classification technology and seamlessly integrated it with the originator’s capture technology, while allowing existing interfaces to both front-end scanning and back-end image storage to be largely unaffected.
This mortgage loan originator is now able to automatically identify the vast majority of pages in a loan file with no human intervention and has expanded its use to include automated data capture of hundreds of mortgage loan data fields.
A top Midwest-based lender was servicing loans, but had no advanced document automation technology to help manage its loan onboarding process. This required documents to be manually indexed and audited, which was producing delays and inaccuracies.
Paradatec’s document classification technology was chosen to support several onboarding projects, providing a vast set of pre-built rules to classify and confirm incoming data.
After rollout, this lender was able to automatically classify over 350 different document types and onboard loans in a fraction of the time with a fraction of the human intervention previously required.
From originators to servicers, BPOs and external due diligence firms trust Paradatec to streamline document processing.
