EDISON, N.J., July 23, 2024 -- Indecomm, a leading provider of mortgage automation solutions, is proud to announce the expansion of its BotGenius portfolio with the addition of two new innovative bots designed to accelerate and simplify title and appraisal review processes in the mortgage origination process. The new bots eliminate the manual steps required to review title and appraisal documents, drastically increasing efficiency in loan setup and processing operations, and allowing mortgage associates to focus on higher-value tasks.
"Loan set-up and processing operations are burdened by highly manual, repetitive real estate document reviews," said Narayan Bharadwaj, SVP of Automation. "Powered by our award-winning Intelligent Data Extractor (IDX), we unlock data from documents and use that data to automate complex and manual mortgage operations. BotGenius title review and appraisal review bots were developed integrating IDX to deliver automation and unparalleled efficiency."
Whether reviewing title-related documents or appraisal valuations, the bot taps into IDX, working behind the scenes to gather information from the source document, subsequently comparing the information against LOS data –or other source data— and running process-specific rules. Once this is complete, the bot then prioritizes and creates conditions in the LOS for the user in a consistent and organized way, generating communication both to the borrower and to the processing staff.
"Indecomm remains dedicated to addressing the mortgage industry's critical challenge: lender vulnerability to market fluctuations and rapid volume changes," said Indecomm CEO, Rajan Nair. "Our latest BotGenius innovations exemplify how lenders can harness automation to boost productivity and scale effectively in any mortgage environment."
Title reviews and appraisal reviews are typically lengthy, manual, document-intensive "stare and compare" processes. Heavy reliance on human reviews creates more operational risk in both high-volume and low-volume markets. Leveraging BotGenius powered by IDX, reliance on manual intervention in the initial document review process is non-existent. Instead, the mortgage associate is given a highly focused list of findings and anomalies identified by the bot.
Indecomm's BotGenius review bots are pre-built, out-of-the-box bots that are accessible to all lenders. This ease of implementation ensures that lenders can quickly adopt next-generation automation tools without extensive overhauls to their existing systems. To better understand how BotGenius appraisal and title review bots work, lenders can request a demo by visiting: https://indecomm.com/demo
About Indecomm
www.indecomm.com | Founded more than 25 years ago, Indecomm blends intelligent automation with deep mortgage banking expertise to deliver groundbreaking Genius mortgage innovations that help businesses optimize operations and achieve competitive advantage. Backed by a 1500-strong global workforce, Indecomm's automation-as-a-service approach benefits mortgage organizations, enabling them to offer better borrower experiences by streamlining middle and back-office operations.
Indecomm takes an automation-first approach, partnering with large and mid-sized lenders, servicers, mortgage insurers, and title companies to create efficiencies at every phase of the mortgage lifecycle. Specifically, Indecomm products and services leverage robotics process automation (RPA), supervised automation, and machine learning to tackle the industry's most complex operational challenges. This is what we call Genius@Work.
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