Using Visionet’s VisiLoanReview (VLR) platform, Victorian has automated the extraction of critical data from investors’ purchase advices and is feeding that information back into its loan origination system for loan review purposes.
As a result, Victorian is saving approximately 30 minutes per loan review, Visionet says in a release.
Visionet claims its automated data extraction and loan review system virtually eliminates errors from data entry.
“Many lenders’ processes are lengthy and error-prone because they include sifting through documents and manually keying data,” says Arshad Masood, CEO of Visionet. “Our solution allows Victorian to offload a cumbersome, tedious process and improve their efficiency and scalability.”
Visionet’s VLR can be “trained” to recognize and extract data from numerous investors’ purchase advices.
For damaged or poor-quality documents, Visionet’s white glove service handles exception processing.
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