Iron Mountain Insight™ for The Mortgage Industry

Solution Guides

Actionable insights and analytics for the mortgage industry.

13 October 20206 mins
Iron Mountain Mortgage & Loan Solutions

Actionable insights for the mortgage industry

Business challenge:

The distributed nature of today’s business environment can create an ecosystem of diverse systems with multiple data types from various data sources, including loan documents, mortgage packages, spreadsheet data, and external data sources. Inconsistent and unorganized content leads to excessive time searching for information.

Most information is now digital, but many physical records are still archived off-site, and most organizations also often encompass multiple departmental “silos” each utilizing its own records and information management processes. This lack of standardization creates inefficiencies that can negatively affect your ability to gain critical business insights from your information, and increases the risk of audits and legal action.

A content business services platform

Iron Mountain InSight™ is a content services platform that provides actionable business insights and predictive analytics through Machine Learning (ML)- based classification of a company’s physical and digital information, which adds structure, context, and metadata to information to make it more usable. The resulting enriched content can then enable enhanced automated governance and workflows throughout your organization.

How it works

Iron Mountain InSight “industrializes” the process of data capture and content enrichment. It supports data ingestion from various sources: physical (paper, tape) and digital (application generated, human generated). Once ingested, the documents are classified by type and the metadata is organized as a collection.

This process trains the convolutional neural networks connected to the platform, so that once document and metadata indexing is complete, a baseline library is established, which can then be searched for patterns and trends and used to run visualization and analytics tools against applicable business use cases.

The content services platform uses both visual and text classification to increase classification accuracy, allowing users to focus on the analysis needed to drive business decisions.

Benefits for mortgage organizations

Using data types typically stored by the mortgage industry, Iron Mountain InSight enables you to:

  • Automate manual stare and compare activities improving operational efficiencies
  • Obtain immediate visibility into loan file completeness leading to reduced operational risk and improved image repository health
  • Classify and extract document images with a high degree of confidence leveraging advanced proprietary models
  • Assess compliance and diversification requirements and analyze your portfolio for market trends and white spaces per geographic region, applicant income levels or loan types, etc.
  • Facilitate efficient loan origination workflows and optimize business processes while at the same time placing all content under consistent information governance policies

These features improve operational efficiencies throughout the loan lifecycle, allowing resources to focus on more valuable tasks such as missed requirements and discrepancies.