Digital lending technology firm Tavant has debuted its FinDecision product for Ellie Mae’s Encompass platform, enabling loan data to be submitted to automated underwriting systems via a single click.
FinDecision, a part of Tavant’s AI-powered VΞLOX suite, uses machine learning and process automation to give lenders a full view of the options available to borrowers and to improve loan quality through automation. The platform automatically analyzes each loan file to verify eligibility for appraisal waiver and collateral, income, asset representation, and warranty relief benefits. It also identifies and flags the verified income details for each applicant within the loan file.
“We are committed to investing in technology that enhances the borrower experience and entitles greater efficiency, cost reduction and speed to market,” says Mohammad Rashid, head of Tavant’s fintech practice.
“We are enabling mortgage lenders to thrive in the digital era,” adds Abhinav Asthana, Tavant’s head of product. “Our solutions provide loan officers and back-office teams with data and augmented intelligence and make it effortless to deliver the best possible borrower experience while maximizing loan performance in the secondary market. FinDecision provides Ellie Mae Encompass lenders more transparency, allowing them to identify the loan that is most favorable to their borrower while cutting costs and closing loans faster.”