Mortgage loan review technology provider LauraMac has completed its integration with LoanLogics IDEA, an intelligent document processing and data extraction technology.
LauraMac’s cloud-based Loan Review platform is a configurable transaction management system used by more than 60% of the industry’s third-party due diligence firms to review and QC loans.
LoanLogics IDEA transforms digital documents into classified, versioned loan documents from which data is then extracted. The results are integrated into LauraMac’s Loan Review, where they are incorporated into the workflow and processed by configurable rules. Classified documents are tethered to their respective data pages and extracted data points are pre-loaded for the user, bringing additional efficiency to the process.
“We are excited to include LoanLogics in our growing number of integration partners,” says LauraMac CEO Bob Fulton. “Giving our clients the ability to put the LoanLogics’ data into actionable workflow within the LauraMac technology further advances our vision of a touchless or exception-based loan review.”
“This integration is yet another step along the path of empowering the mortgage industry with data-driven digital technology,” adds Dave Parker, LoanLogics CEO. “Specifically, the combination of our document processing capability and the LauraMac platform will improve the quality and transparency of mortgage loan commerce.”