AI-Cloud helps clients accelerate their decision making, with AI-powered automated data identification and reconciliation. Enterprise scale with workflow-specific configurability, with robust reporting to easily track ROI, Paradatec is a trusted partner for industry leaders.
Lenders, servicers and service providers use AI-Cloud to automate processes across the entire transaction lifecycle: origination, broker and correspondent operations, loan onboarding and servicing, mortgage servicing rights (MSR) transfers, and special projects including audit preparation, data mining, PII redaction, data standardization, and portfolio cleanup.
Paradatec uses deterministic AI, trained specifically for the mortgage / real estate industry, to deliver astonishingly accurate results that are also fully explainable. AI-Cloud is integrated with multiple systems of record including point-of-sale, loan origination, servicing and document repository providers; and our flexible API seamlessly puts the power of Paradatec into any workflow.
Designed for high volume elastic capacity, AI-Cloud can process millions of loans at a rate of milliseconds per page per processor core. Use AI-Cloud in our SOC-2 audited SaaS option, or in your own AWS or Azure cloud or traditional servers.
Paradatec returns the data you need to accelerate your processes – from asset, income, liability and other documents provided by the borrower to purchase contracts, property valuations, property taxes and insurance, title work and fee details, invoices, broker or correspondent packages, servicing transfer files, loss mitigation / default servicing documents, and more.
Select just the data you need, and which documents you want it from, per workflow process. AI-Cloud finds the data you want – identifying over 9,500 data fields from 975+ documents commonly used in mortgage and real estate processes.
You decide if you prefer to extract a field from a specific document version type or from all versions. And if you need a new data point, adding new data fields is fast and easy.
After AI-Cloud converts 100% of the information trapped in your documents to individual data elements, it can cross-reference and evaluate every data point – across documents for a file, and against datasets and your systems of record. Compare across a single package of documents or multiple packages received for the same file. Our modifiable business rules library provides an extensive set of rules and an intuitive Rule Builder to edit or create rules and their triggers. You can even add manual audit tasks for automated evaluation.
What can Paradatec’s automated reconciliation do for you? Cross-reference processing and underwriting data. Reconcile the Closing Disclosure and other data before closing. Streamline post-closing audits. Review loans before you buy them from brokers and correspondents. Ensure HMDA compliance by validating LAR data. Cross-reference data provided by prior servicers against incoming documents before being onboarded into your system.
Paradatec’s high-speed AI-based text analysis technology indexes pages in milliseconds with no human intervention. Classify structured and unstructured documents with industry-leading accuracy — even documents that were previously indexed incorrectly—and receive more granular details than any other technology can deliver. Low resolution documents or skewed images? From inception, AI-Cloud was trained on low-quality images.
Once documents are indexed, AI-Cloud can version them with our document-specific versioning rules designed from common best practices, or you can modify the configurations to meet your unique needs. Need specific documents to be identified, but then combined into an overarching document type? AI-Cloud does that too.
Document and data transformation options are another example of AI-Cloud’s flexibility. Documents can be output as single or concatenated PDFs, or image files; and data extractions can be highlighted in addition to being indexed in PDF bookmark entries and returned as machine-readable values with location coordinates.
Documents can be output in preferred stacking orders and taxonomies such as for your internal systems or investor requirements. Incoming and outgoing data can be translated using your preferred taxonomy; Paradatec supports MISMO, many system-specific data standards, and client specific needs.
Paradatec’s proprietary technology reads the layers in documents and can highlight potential document alterations. AI-Cloud also helps identify inconsistencies faster in data patterns and accelerates the process of cross-checking data for coherency, using its accurate data extraction that returns machine-readable formats with source metadata for every field.
With increased security needs and recent consumer legislation, privacy is of utmost importance. Need to redact PII / NPI or other specific data fields in documents? AI-Cloud can identify confidential or sensitive data points in milliseconds, capture the values before redaction, and return redacted documents with the redacted data in machine-readable format.
From originators to servicers, BPOs and external due diligence firms trust Paradatec to streamline document processing.
