Data Extraction Activity Increases


Cincinnati, OH, March 30, 2016 – Paradatec, Inc. is pleased to announce their participation in next week’s Mortgage Bankers Association Technology Conference at the JW Marriott LA Live in Los Angeles, California.  “Validating compliance with the new TRID requirements continues to be top-of-mind for many folks we talk to, and they’re finding technology to be the only way to manage this escalating cost curve.  We continue to enhance our data extraction rules for capturing all of the variable data from the Loan Estimate and Closing Disclosure documents, accommodating for lower quality images to maintain impressive automation rates,” said Neil Fraser, Paradatec’s Director of US Operations.  Fraser continues, “Now that the TRID documents have been in use for a number of months, we’re hearing from folks who have looked at other OCR solutions for TRID support, only to realize marginal results.  Our solution has been in production use since October 1 with solid results.  We encourage anyone interested in knowing more about Paradatec’s solution to stop by our booth for a demo.”  Paradatec staff will be available in booth #608 from Sunday, April 4 through Tuesday, April 6.

Paradatec’s solutions offer significant efficiencies for classifying large quantities of differing document types and extracting key data elements from those documents.  In the mortgage market, these capabilities allow for the quick and accurate identification of over 500 unique documents in the typical mortgage file, along with capturing nearly any data element that an organization requires. For more information, please visit www.paradatec.com/mortgage.

 

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If you would like more information about this topic, please contact Paul Fischer at 262.685.7286 or email at p.fischer@paradatec.com.