Ally Bank has implemented Visionet Systems’ VisiLoanReview (VLR) solution to help facilitate its bulk loan acquisition reviews.
“Visionet’s VLR solution has allowed Ally to quickly and more cost-effectively evaluate, bid on, and secure deals for Ally’s investment portfolio,” says Craig Evans, mortgage executive at Ally Bank. “The data collected by the solution will feed into our models and improve them over time, and VLR’s ability to ingest and process loan documents makes it easier for sellers to do business with Ally.”
The VLR platform uses a robust workflow and rules engine and provides automated document capture and loan processing facilities for conforming and non-conforming first mortgages and closed-end seconds procured in bulk, mini-bulk and flow scenarios.
Visionet says VLR tracks trade activity; indexes closed loan packages and data tapes from sellers; extracts document data using embedded OCR technology; performs document-to-data comparison and validation; and more.