Northpointe Bank Case Study

June 7, 2021

Northpointe Bank Case Study

Northpointe Bank

This nationwide correspondent lender needed a solution to replace its manual loan indexing and data capture processes, which were prone to error and creating excessive labor costs.

Solution

After an exhaustive evaluation process, Paradatec was determined to be by far the fastest OCR and ADR technology on the market. The company’s pre-built mortgage logic understood the vast majority of loan document types and variations, and its library of 8,500 data extraction fields supported NorthPointe’s correspondent lending processes.

Results

 Since implementing Paradatec, Northpointe has experienced significant reductions in labor costs, error rates, and processing times. It has since taken advantage of the large volume of highly accurate and valuable data generated by Paradatec to implement sophisticated business rules to streamline loan production.

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Our Clients Love Us

From originators to servicers, BPOs and external due diligence firms trust Paradatec to streamline document processing.

We asked a number of vendors, including the Paradatec team, to help us perform an extensive due diligence process that included an out-of-the-box, blind test with our own loan samples and proof of concept test.  Paradatec was the clear winner based on our comprehensive vetting process.

Steven Davids
Senior Vice President of Correspondent Lending, Northpointe Bank