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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 8 August 2024 M T E C H provision and compare the likelihood of risk under both typical and extreme conditions » Telecommunications: providers can better understand the potential impact of wildfires on cell tower placements » Public Sector: organizations and government agencies can safeguard communities and land from wildfire threats and risk of urban conflagration Fire safety departments located in San Bernardino County, California, already rely on wildfire risk data from Precisely to strengthen local protection plans and, ul- timately, help manage risk to property and citizens in an area that has seen a growing threat of wildfires in recent years. "To help ensure a competitive advantage in successfully securing grant allocations, it's crucial to make confident wildfire protection decisions based on trustworthy data," said Justin Merino, Managing Director at Morongo Basin Fire Safe Council. "The bottom line is, if we fail to secure grants, that loss of funding could mean life or death for our community and property loss." INDECOMM EXPANDS PORTFOLIO OF BOTGENIUS WITH NEW TITLE AND APPRAISAL REVIEW BOTS I ndecomm has unveiled the expan- sion 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 oper- ations are burdened by highly manual, repetitive real estate document reviews," said Narayan Bharadwaj, SVP of Auto- mation. "Powered by our award-winning Intelligent Data Extractor (IDX), we un- lock 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 orga- nized way, generating communication both to the borrower and to the processing staff. "Indecomm remains dedicated to ad- dressing 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 can typically be lengthy, manual, document-in- tensive "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 nonexistent. Instead, the mortgage associate is given a highly focused list of findings and anoma- lies identified by the bot. CANDOR TECHNOLOGY REVOLUTIONIZES MORTGAGE PREQUALIFICATION PROCESS WITH AI- POWERED PREQUAL TOOL C andor Technology has an- nounced the release of its groundbreaking PreQual product, "To help ensure a competitive advantage in successfully securing grant allocations, it's crucial to make confident wildfire protection decisions based on trustworthy data." —Justin Merino, Managing Director, Morongo Basin Fire Safe Council