LoanLogics – Industry leaders in document processing automation and mortgage auditing

Founded in 2005, LoanLogics is a provider of mortgage audit software, income calculation and verification technology, and document processing automation. This data-driven digital technology improves the transparency and accuracy of the mortgage process and improves the quality of loans. The company’s capabilities and audit services help residential mortgage lenders, servicers, insurers and investors validate compliance, improve profitability and manage risk during the manufacture, sale and servicing of loan assets. LoanLogics leverages the latest methodologies in cloud computing and machine learning technology to deliver greater value for clients.

Leveraging Rules-Driven Audit Automation Platform

Intelligent Data Extraction and Automation Services (IDEA^®): Mortgage data and document processing services that use OCR technology alone are limited in performance and often require a great deal of human intervention. LoanLogics IDEA technology automates the granular classification and indexing of all digital images, as well as scanned mortgage documents using automated document recognition (ADR). Powered by advanced machine learning, their decade of mortgage industry experience and a robust document repository, they train their technology so you don’t have to. As a result, thier doc processing software can handle more mortgage document types, both structured and unstructured, and document variations, delivering greater accuracy for mortgage document classification right out of the gate. Customized stacking order and naming conventions for loan file documents, as well as the chronological display and versioning of them, are best practice features available with this service. A bookmarked PDF provides one click access to all loan file documents, eliminating the need to search through unorganized multi-page pdf, jpeg or tiff files. Any missing documents are identified, both critical and non-critical. Even execution can be validated through LoanHD^® SignaFacts^®, providing new transparency for document fraud.

LoanHD^®: Few would argue that regulatory obligations have made the job of ensuring loan quality tougher and more expensive over the past decade. Investor scrutiny is now on par with regulator examinations and borrowers are demanding more from the origination process. This trifecta of pressures is why lenders continue to turn to LoanLogics’ flagship product, LoanHD, to enable more accurate, efficient, transparent audit reviews. More effective Pre-Closing, Post-Closing, Pre-Funding and Mortgage Compliance audits begin with the accuracy of your data. Prior to an audit, IDEA^® Services for intelligent data extraction & automation capture a 360-degree view of data by comparing system’s data with loan file documents. Advanced machine learning and data extraction technologies combine with human operator workflow to deliver 99% data accuracy. The resulting purified data is used by LoanHD to power automated audit workflows. Rules-based automation completes a significant portion of audit tests, focusing auditors only on exceptions. Customized tests can be added to their deep library of audit rules automation to enable even more control over quality metrics important to your business. And, LoanFacts^® provide a view into purified data elements and enable comparison of data that conflicts in a failed test. One-click access to specific documents based on relevance to the audit test accelerates review.

IDEA OnDemand: The system's scalability is first showcased at document upload. Multi-document files or single documents can be uploaded via standard API calls or through the system’s intuitive, secure web interface. After documents are uploaded for automated processing, completed in just seconds, status and exception notifications guide users directly to system identified discrepancies to manage in real-time. Access to a searchable pipeline view of loans and an audit trail of user made changes keeps productivity on track. IDEA OnDemand delivers individually classified documents and related data elements ready for export. Outputs are available in a variety of industry standard format options that can be imported into most mortgage systems, such as a lender’s POS, LOS or document management system. Perhaps the system’s best feature is its configurability. Set confidence scores using the system’s default ranges, globally, by document and/or by data field. This allows clients to govern the data and documents important to their business, further improving processing speed. Client defined stacking order, document taxonomy and the ability to create and manage users is also configurable in IDEA OnDemand.

About | David Parker

Dave Parker is the Chief Executive Officer at LoanLogics. In this role, he is responsible for overseeing all company operations, technology and software development, and leading the strategies that will increase the value of LoanLogics technology automation and services to the mortgage industry. As an industry innovator with 30 years’ experience leading start-up, growth and mature product and service companies, Dave will drive LoanLogics’ sustainable growth through market needs-driven technology development.

Throughout his career, Dave has led teams that bridge the gap between technology and the business. He has rich and deep experience leading entire technology companies and product divisions inside companies. He is astute at formulating product strategy and driving execution. He has rich experience with complex systems implementations, process improvement and regulatory-driven change programs for both lenders and financial technology companies, including involvement in many mission critical enterprise system implementations. He has proven success constructing solutions from scratch and through extensive integration of capabilities from suppliers and ecosystems.

With contagious energy and enthusiasm, Dave has never struggled to build and sustain skilled, motivated and high performing teams. He prides himself on the success of the team and has effectively extended teams across company boundaries to deliver more holistic and robust capabilities to his clients, stakeholders and stockholders. He, and others that work with him, achieves great results while having fun.

"As a mortgage loan quality automation provider, LoanLogics is focused on developing innovations that improve the transparency and accuracy of the mortgage process and the efficiency of loan commerce."