Paradatec’s high-speed AI-based text analysis technology indexes pages in milliseconds with no human intervention. You’ll be able to verify and index hundreds of structured and unstructured documents—even documents that were previously indexed incorrectly—and receive more granular details than any other technology can deliver. It’s the fastest way to index pre-closed, post-closed, or onboarded loan document packages.
Hosted by Amazon Web Services (AWS), Paradatec’s AI-Cloud hosting platform is highly scalable and capable of processing from 1 to 1 million loans in milliseconds per page per processor core —all with little to no IT investment or maintenance and administrative costs. Lenders and servicers can use AI-Cloud for loan originations, mortgage servicing rights (MSR) onboarding, correspondent operations, portfolio cleanup and more. In most cases, all you need is a custom URL provided by Paradatec to submit content. Paradatec does the rest.
Re-stacking loans in the order your individual investors require can be a long and laborious process. Fortunately, Paradatec’s technology can stack and re-stack loan packages in any order your investors require in just minutes. With Paradatec, your file re-stacking headaches will be over—for good.
Paradatec’s technology generates stacked PDF loan packages that meet your investors’ requirements. Paradatec’s technology automatically indexes all incoming documents, extracts relevant data and verifies it against servicing data, and creates one or more PDF documents for every package. You’ll receive a detailed table of contents with hyperlinks to each data element, which makes future auditing a snap.
With increased security needs and recent consumer legislation, privacy is of utmost importance. Paradatec can generate stacked loan file PDFs and automatically redact confidential borrower data to meet privacy requirements wherever you do business. You’ll have access to a machine-trained OCR library of data points that automatically locates and redacts personally identifiable information in just milliseconds.
Classifying and extracting data from key documents can be a nightmare when dealing with the disparate document types found in most loan files. Thankfully, Paradatec’s industry-leading, out-of-the-box OCR is capable of pulling data from over 750 known mortgage document types with a pre-built library of over 8,500 individual unique data fields on loan documents in just seconds.
After Paradatec’s advanced AI-based, machine-trained technology converts 100% of the information trapped in your loan documents to individual data elements, its automated loan auditing tools break down every loan into 750 specific document types and ensures HMDA compliance by quickly validating data on your LAR. You’ll also be able to take data provided by prior servicers and automatically audit it against incoming documents before being absorbed into your system.
With Paradatec, you’ll be able to store all loan data captured in milliseconds without any human labor. When you need to pull up a loan, Paradatec automatically verifies the 10 to 15 percent of data that you’re uncertain about by comparing key data elements from loan files with your system of record and confirming that no changes have been made. You’ll be able to reduce or eliminate manual verification tasks, so you can direct staff resources to more important work.
From originators to servicers, BPOs and external due diligence firms trust Paradatec to streamline document processing.
