Mortgage technology provider Capsilon has unveiled the Capsilon Digital Mortgage Platform, an all-digital mortgage processing platform that utilizes Intelligent Process Automation to transform mortgage production and servicing processes into a modern digital factory.
This new platform represents Capsilon’s vision for the future of mortgage production and servicing, the software firm says in a release. It doesn’t replace loan origination systems (LOS); rather, it integrates with leading LOS and uses Intelligent Process Automation to automatically complete key steps throughout the mortgage production process, from the initial loan application to delivery to investors.
Unlike Robotic Process Automation, which uses computer programs to mimic simple manual tasks, such as data entry, Intelligent Process Automation uses contextual artificial intelligence to understand which documents, data and rules are required to accomplish key tasks at every step of the mortgage production process, and automatically completes these steps. Human intervention is required only for items that fall outside of established parameters, Capsilon claims.
Coinciding with the launch of the platform is the introduction of the Capsilon Point of Sale (POS) Portals, which are seamlessly integrated entry points to the digital mortgage factory. By integrating POS portals with the digital mortgage factory, lenders are able to elevate the customer experience throughout the entire mortgage process with increased production velocity and improved collaboration.
Using Capsilon POS Portals, originators are able to increase productivity and efficiency by streamlining pricing and automatically generating a list of required documents based on the loan program chosen. Capsilon POS Portals then automatically identify, name and index related submissions to ensure loans are complete and ready for underwriting. In addition, only these portals automatically match documents to related conditions, speeding the process and eliminating errors.
The Capsilon LO Portal and the Capsilon TPO Portal enable originators to deliver fully integrated, real-time pricing and advanced quote management to their loan officers and broker communities to increase the velocity of completed loan applications. Automated loan set-up and document submission capabilities speed the process and slash labor costs. In addition, the Capsilon LO Portal is integrated with the Capsilon Consumer Portal to enable collaboration that improves loan officer efficiency and increases consumer satisfaction.
Meanwhile, the Capsilon Consumer Portal elevates the customer experience through automation with a wizard-guided, intuitive user interface; automated data capture that eliminates data entry and improves application quality; tools that let consumers compare loan products; and a task-driven dashboard that guides the borrower through the entire application and document submission process.
“The Capsilon Portals are cutting-edge technology compared to the LOS-based portals,” says Kevin Peranio, chief lending officer of Paramount Residential Mortgage Group. “With the automation the Capsilon Portals offer, we expect not only to increase our loan applications and pull-through rates with a better digital experience, but our consumers will have the tools they need to make better product decisions and stay informed every step of the way.”
“By integrating Optimal Blue’s real-time product eligibility and pricing content directly into the Capsilon Point of Sale Portals, our joint clients benefit from process efficiencies and an engaging origination experience,” adds Scott Happ, CEO of Optimal Blue. “Strategic integrations with digital mortgage technology leaders such as Capsilon will move the industry forward.”
“The Capsilon Digital Mortgage Platform transforms the speed, user experience, and economics of the mortgage process,” says Sanjeev Malaney, CEO of Capsilon. “By leveraging Intelligent Process Automation, the platform transforms existing mortgage production and servicing processes into a modern digital factory that offers a true end-to-end digital process that delights consumers and gives mortgage companies a disruptive economic advantage.”
The open platform also sports a rich API set, thus allowing it to be readily integrated with other technology solutions.