“ Being at the forefront of industry change, we didn’t have all the answers or even know what questions to ask. The AI Foundry team took our scenarios and developed a solution to get to the data and automate the entire loan process. We are now ahead of many other lenders because of the Agile Mortgages solution we’ve implemented.” —Don Jarrett, SVP-National Process Manager, Certainty Home Loans

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The traditional mortgage application process has always been complicated, cumbersome, error-prone and ultimately frustrating, until now. Customers in this digital age expect financial organizations to provide streamlined, automated, and real-time interactions regardless of the product or service. Banks and lending institutions must digitally transform their businesses to provide these types of interactions and stay competitive. Our Agile Mortgages solution built on our Cognitive Business Automation Platform brings together the front and back office to create a “Digital One Office” that automates the entire loan process, reduces manual document review, improves data accuracy, and enhances performance from POS to LOS. AI Foundry is revolutionizing the way loan data is processed and enhancing overall customer experience.

SolutionWhen a bank or mortgage company deploys the Agile Mortgages solution during the mortgage loan origination process, they reduce human involvement as much as possible and only apply it on an intervention basis. The data is extracted from the documents, automatically populating the system of record like Ellie Mae’s Encompass® Digital Lending Platform. Only when there is a missing document, piece of information or signature missing do production teams get involved.

On the other end, customers do not have to wait for the mortgage process to go all the way through only to then find out that they must either come in again or, resubmit missing documents. Doing right by the customer the first time streamlines the entire process and provides a great customer experience. In turn, this increases customer interaction, satisfac-tion, and loyalty; which allows lenders to differentiate themselves from the competition.

The actionable business intelligence data we create enables lenders to transform their business processes and operations, offer new products and services, and provide better customer service.

Agile Mortgages Solution Revolutionizing the Mortgage Process with Agile Mortgages

Bringing together the front and back office to create a “Digital One Office”

SOLUTION

Learn more!

The Agile Mortgages LOS Integration

for Encompass enhances perfor-

mance from POS to LOS by bringing

AI to Encompass and automating

the mortgage process.

https://www.aifoundry.com/resources/ sb-los-first-encompass

SOLUTION Agile Mortgages Solution

Leading Edge Technology• With simple integrations, the solution allows for an exchange of data with POS, LOS, GSE, Pricing, Servicing, and 3rd Party System Providers.

• Built and modeled on a MISMO reference model the solution inherently handles the association of processed data and docu ments with higher-level entities such as loans.

Ability to Adjust to Cyclical Nature Inherent to Mortgage Industry• A scalable and extensible microservices based architecture allows the solutionto respond to the demands of your business, increasing when loan volume is high and decreasing when loan volume is low.

Greater Accuracy than Traditional OCR• AI, machine learning, and computer-vision techniques learn all document types quickly and accurately. Our solution has accuracy rates over 90%— significantly higher than current Optical Character Recognition (OCR) techniques.

Process Automation• Agile Mortgages runs sophisticated data validation rules in real-time against loan documents like the Uniform Residential Loan Application, Loan Estimate, Paystubs, W2s and Closing Disclosures to monitor completeness, integrity, and compliance of data flowing through the system. When invoked, rules are able to trigger remedial events early in the document processing and exception handling phases reducing the overall cycle time and cost of remediation.

LOS Integration for Encompass

• Our LOS integration for Encompass intelligently monitors and processes new documents as they are uploaded. Classified documents and extracted data are automat- ically synched to a loan’s specific eFolder in Encompass. The sophisticated data vali dation rules identify discrepancies and compliance issues and flag the production team within Encompass via conversation logs, alerts, messages, and tasks to resolve the loan’s issues. Processes can be triggered and workflow conditions enforced.

Manual Reviews and Exception Handling• The solution supports fast and efficient manual reviews using targeted and highly optimized task specific user interface. Exceptions are visually presented in the context of the document to enhance reviewer productivity.

Detailed and Data-Driven Analysis• Agile Mortgages provides detailed data to conduct deep analytics, the data is easily delivered to systems that run underwriting, pricing, and valuation models. Users are able to create customized dashboards and operational reports to meet their specific reporting needs.

Intuitive User Experience• Built on an enterprise-class portal with a range of collaboration features including the ability to personalize for specific users, and the flexibility to integrate with other web applications using single sign-on (SSO) or iframes.

Agile Mortgages Solution Features:

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Intuitive task based exception management and review user interface

Flexible “package” design to process different kinds of loan packages and their associated metadata

Ability to easily build your own extraction library

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“ As an initial foray, early staff training has focused on taking advantage of the platform’s ability to extract data for and track the progress of reviewing the income and assets of borrowers. And the results have been promising as Atlantic Home Loans has managed to cut review time for these processes by 80%.” —Javelin, “Agile Mortgages Case Study: Atlantic Home Loans”

TechnologyOur next generation Cognitive Business Automation Platform built on patent- pending technology incorporates the latest in AI, machine learning and machine vision to recognize, process and mine data from document images with a high degree of accuracy and speed. Just as image recogni-tion techniques for facial recognition have become mainstream in identity manage-ment and authentication, the application of image recognition in our platform will disrupt the automation of document centric processes. The machine learning algorithms used in the platform ensure that the docu- ment recognition model is self-learning, adaptive, and self-tuning based on usage and human interactions during the exception handling processes.

Process automations that truly make a sig-nificant real-world impact require accurate document recognition and data extraction in near real-time. With the use of machine vision to recognize, extract and classify data, the platform delivers accuracy rates of 90% or higher, which is significantly higher than the most advanced OCR technology commonly used today.

The platform features a powerful rules engine with the ability for business users to easily create and deploy robots. Business users can simply and quickly define and manage the rules for the robots in a familiar and intuitive authoring environment. The robots can be deployed to work on real-time data inputs to ensure proactive monitoring and actions. By making action-

able inferences such as detecting the need for further review or approvals, and trigger-ing remedial events early in the document processing and exception handling phases, the platform reduces the overall cycle time and cost of remediation.

SOLUTION Agile Mortgages Solution

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Robotic Process Agents • The platform provides the ability to easily integrate business rules into robotic agents that can provide needed industry domain context to help deliver significant process automation along with improvements in classification, extraction, and data accuracy. A great benefit to users is that once a rule and robotic agent are created, they can easily be reused in the future, thus stream- lining the need to continually rewrite commonly used rules.

Scalable and Extensible Microservices Based Architecture• Using modern token-based authentication and authorization mechanisms, other systems and applications can simply and securely call these services in the context of their business process workflows allowing the system to grow and shrink quickly. Seamless integrations to other software can be implemented in a fraction of the time it takes today with minimal disruption to the user experience.

Fast Learning and Ability to Adapt Capabilities• AI, machine learning, and machine vision techniques learn all document types quickly and accurately and then create the nec- essary workflow processes. The “training” time required for classification and extraction models is significantly reduced. Our models are low-touch, self-learning, and continue to improve in accuracy over time—achieving accuracy rates over 90%.

Process Automation• The Cognitive Business Automation platform features a sophisticated rules engine to create robotic agents that can monitor completeness, integrity, and compliance of the data flowing through the system and can make actionable inferences that trigger remedial events early in the document processing and exception handling phases thereby reducing the overall cycle time and cost of remediation.

Robust and Scalable• Our platform leverages the intrinsic economy of major cloud providers, such as AWS and Azure, taking advantage of the low-cost core capacity for performance of our software engine at nearly any scale of use. Solutions are built on an elastic microservice-based architecture that can efficiently exploit modern cloud-based and virtualized infrastructures to scale up or out on demand.

Cognitive Business Automation Platform Features:

Cloud or On-Premise Deployment• As a virtual software appliance, our solu- tions can be easily deployed on virtualized infrastructure both as a Software-as-a- Service (SaaS) solution or on premise. Our SaaS offering reduces the burden on your IT resources while providing a safe and secure environment that can be easily scaled to support your changing needs. Solutions can be embedded into your exist- ing applications using REST API calls and our self-service functionality allows you to add customizations and extensions. A short setup process enables organizations to start using the solution immediately while well-definedaccessinterfacesmeettight security and compliance requirements. Maintaining the platform doesn’t require significanttimeorresourcesasallplatform enhancements and updates are available for deployment automatically.

SOLUTION Agile Mortgages Solution

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Ability to monitor processing of document batches

SOLUTION

About AI FoundryAI Foundry’s Agile Mortgages Solution transforms banking and lending operations by utilizing technology, data and people in new, more efficient processes. Our solution creates a “Digital One Office” integrating both the front- and back office and reducing loan processing times by 50%. Organizations can adapt to changing market conditions, manage compliance and drive bottom-line improvements. © 2019 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, Mavent®, Velocify®, the Ellie Mae logo and other trademarks or service marks of Ellie Mae, Inc. appearing herein are the property of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners. © 2019 AI Foundry, a Kodak Alaris business unit

so-ams-190417

AI Foundry500 Edgewater Drive, Suite 556/557Wakefield, MA 01880www.AIFoundry.com

781.203.8333AIF.Info@AIFoundry.com

Agile Mortgages Solution

Enhance Customer Experience• Timely, efficient, and transparent loan processing keeps the borrower informed throughout the lifecycle of loan. Gone are the days of borrowers complaining about resubmitting the same document multiple times—our solution eliminates lost or misfiled documents and minimizes human interaction that can lead to errors. Lenders see an increase in customer retention, repeat business and loyalty.

Reduce Processing Time by 50% • The Agile Mortgages solution enables the mortgage industry to use AI, machine learning, and machine vision technology to replace multi-week manual processes so that mortgages can now be processed 50% faster.

Realize Average Savings of $500 to $600 Per Loan• By automating a higher percentage of manual document handling activities loan origination costs and manual labor costs are significantly reduced. Lender’s see an aver- age reduction of $500 to $600 in produc- tion cost.

Rapid Implementation and ROI• By implementing the Agile Mortgages solution, lenders generally see a rapid return on their investment. With an imple- mentation time as short as 60-90 days the solution can be up and running in produc- tion quickly. The Agile Mortgage solution automates the entire mortgage origination process and lenders are quickly able to reap the cost saving benefits in months, not years.

Achieve Accuracy Rates of 90% or Higher• Using machine vision technology to extract and classify data and information, our solution delivers accuracy rates of 90% or higher.

Underwriting a Loan File in Minutes• Loan due diligence is improved due to the documents being accurately classified and the required data points being properly extracted and analyzed for discrepancies and inconsistencies. As a result, the time spent reviewing and clearing conditions can be reduced to minutes per loan.

Continual Compliance• The Agile Mortgages solution includes real-time data validation rules that auto- matically identify discrepancies and compliance issues and logs them in the audit history of the loan. If any discrep- ancies are found, the team proactively works to resolve them prior to the closing.

Engage in “High” Touch Activities• By deploying the Agile Mortgages solution production teams are assured that data points such as social security numbers, date of birth, addresses, and other key pieces of information are correct across all docu- ments and data. As a result, production teams are able to have greater confidence in the data and focus more time on high touch, customer-facing activities that drive new loans, more referrals and repeat business.

ROI

“ Competition in the mortgage lending industry is intense, and while many companies have deployed POS solutions for the customer, the back-end processes have not been automated, until now. We will truly disrupt the ‘status quo’ by enabling lenders to complement those front-end capabilities with one-day mortgage approvals requiring minimal human intervention. This not only opens enormous potential for acquiring and delighting new customers; it also drivesdownthecostpermortgagesolenderscanbemoreprofitable.” —Steve Butler, General Manager at AI Foundry