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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 6 October 2023 M T E C H tant for document processing, with Finas- tra Mortgagebot's user interface, replaces manual document classification and document data rekeying tasks and brings enhanced automation and data accuracy to the mortgage origination process. While processing documents, users are alerted to any data or document that requires further review, allowing them to address exceptions directly within the Mortgagebot platform via API calls to IDEA OnDemand. The integration also facilitates data reconciliation between Finastra Mortgagebot and IDEA On- Demand, using a side-by-side table to compare LOS data with extracted data. The integration with LoanBeam Tax offers a seamless, efficient, GSE-certified solution for determining qualifying in- come for self-employed borrowers right from within Finastra Mortgagebot. Lever- aging LoanBeam's APIs, users can upload docs for processing and LoanBeam Tax will automatically extract all income data, check for missing documents, and calculate the borrower's qualifying income according to Investor guidelines. "We are delighted to announce the successful integration of LoanLogics' IDEA OnDemand and LoanBeam Tax solutions with Finastra Mortgagebot," said Terrell Cassada, EVP of Product Architecture and Innovation at LoanLog- ics. "Both integrations bring a new level of efficiency, accuracy, and automation to Finastra's Mortgagebot users, who can use LoanLogics' advanced technology to streamline processing and underwriting workflows, improve data quality, and enhance the borrower experience." "These integrations demonstrate our commitment to providing mort- gage lenders with the tools they need to excel," said Mary Kay Theriault, Director of Product Management for Mortgagebot at Finastra. "Users of the Mortgagebot platform can process loan documents through automation and complete one of the more challenging tasks of calculating income for self-employed borrowers with ease. Being able to do both within the Mortgagebot user interface streamlines these tasks while giving borrowers a faster, smoother experience when buying or refinancing their home." WATERFALLCALC LAUNCHES WATERFALLCALC+ TO HELP SERVICERS BETTER ASSIST DISTRESSED HOMEOWNERS W aterfallCalc unveiled Wa- terfallCalc+, a cloud-based version of its loss mitigation analysis tool that enables distressed bor- rowers to apply for assistance through their phone, tablet, or PC, supplementing the company's WaterfallCalc technology, which allows servicers to calculate the appropriate loss mitigation option based on insurer and agency requirements. While borrowers in default have a wealth of programs available to help them find a path out of delinquency, knowing which options they qualify for can be a cumbersome process for consumers and servicers alike. In addition, many smaller servicers lack affordable, easy-to-use options when it comes to loss mitigation technology. WaterfallCalc+ allows borrowers to securely submit loss mitigation appli- cations directly to their servicer from their phone, tablet, or computer while providing servicers with scalable, acces- sible technology for managing the loss mitigation process. Servicers can invite individual borrowers or a group of borrowers to use WaterfallCalc+, where they can safely log in using two-factor authentication and communicate with the servicer in an easy, transparent manner. Once borrow- ers have logged on, servicers can manage the entire loss mitigation application process, from reviewing new submissions to tracking existing applications, using a dashboard customized just for them. With the borrower's application in hand, WaterfallCalc then identifies a variety of loss mitigation options, from forbearance and loan modifications to deferrals and more. Servicers can easily download a borrower's application and accompanying documents into their system to streamline the audit process and ensure compliance. They can also quickly access comprehensive reports featuring user application counts, appli- cation statuses, and loan volume. OCROLUS LAUNCHES COST-EFFECTIVE INSTANT SOLUTION FOR ANALYZING FINANCIAL DOCUMENTS O crolus announced the intro- duction of Instant, its fully automated document process- ing offering. Instant is an AI-powered service offering that empowers lenders to analyze bank statements and other financial documents. The machine-only solution provides lenders with data qual- ity and analytics, enabling faster lending decisions while reducing risk. "While borrowers in default have a wealth of programs available to help them find a path out of delinquency, knowing which options they qualify for can be a cumbersome process for consumers and servicers alike." —WaterfallCalc