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The benefits of automating back-end processes by using AI to eliminate manual data entry.
In mortgage lending, enterprise search or information extraction applications help expedite the processing and underwriting stages. But, according to a 2018 survey by Fannie Mae, only 27% of mortgage businesses had experience with AI solutions. Lenders that want to use AI can have a competitive advantage over their competitors.
In this whitepaper, you will learn:
While most lenders have digital workflows, the mortgage industry as a whole still struggles with a vast amount of physical documents. In order to rectify this state of affairs, lenders will need to digitize documents in order to adopt an enterprise search application. However, not all digitization solutions are created equal.
In this whitepaper, Emerj Artificial Intelligence speaks with Iron Mountain’s director of product management, Anke Conzelmann, about how AI applications have become valuable tools in mortgage processing and underwriting.
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Financial institutions, including lenders, stand to benefit from automating back-end processes and eliminating manual data entry. In mortgage lending, NLP-enabled search and discovery applications, also called enterprise search or information extraction applications, help expedite the processing and underwriting stages.
This paper will cover how lenders can decrease costs in the long run by using AI to create efficiencies in mortgage processing, underwriting, and compliance workflows.
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