MReport January 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | M R EP O RT patented methods for analyzing text-based property description data further extend our rich his- tory of innovation and help move our automated title production efforts forward." The two latest additions to First American's industry-leading patent portfolio are: "System and Method for Automated Selection of Best Description from Descriptions Extracted from a Plurality of Data Sources Using Numeric Comparison and Textual Centrality Measure" and "System and Method for Automated Classification of Structured Property Description Extracted from Data Source Using Numeric Representation and Keyword Search." LoanLogics Announces Acquisition of LoanBeam NEW DEAL EXPANDS LOANLOGICS' PORTFOLIO OF ORIGINATION TOOLS THAT ENSURE LOAN QUALITY IN MANUFACTURING. L oanLogics has announced the acquisition of LoanBeam, a provider of income calcu- lation and verification technology endorsed by the government- sponsored entities (GSEs)—Fannie Mae and Freddie Mac. "LoanBeam, like LoanLogics, has become an integral part of the digital transformation happen- ing within the mortgage indus- try," said Bill Neville, CEO of LoanLogics. "And now, they are expanding LoanLogics' portfolio of origination tools that ensure loan quality at the source." LoanBeam's products enable lenders to get upfront borrower income validation from any income source, cutting days out of the risk review process. Using patent-pending data pairing technology that leverages machine learning, LoanBeam interprets, sanitizes, categorizes, and converts unstructured data points from any document type into an orga- nized set of information. "We at LoanBeam believe we have found the ideal firm in LoanLogics, one to work closely with as we continue to grow and introduce new capabilities to the market," said Steve Puckett, CEO of LoanBeam. "LoanLogics, like LoanBeam, is known as an in- novator using advanced technol- ogy including machine learning to define, identify, extract, and run mortgage rules against static data for the creation of actionable, digital data output. We are similar in many respects." LoanLogics was acquired by an affiliate of Sun Capital Partners in July 2021. The company has already greatly benefited from the exper- tise, collaboration, and investment capability that Sun Capital brings. The LoanBeam acquisition is a result of that collaboration, leverag- ing LoanLogics' financial strength to grow quickly and substantially by increasing its ability to auto- mate various processes across the mortgage workflow. This is the first acquisition made by LoanLogics since it was acquired. Infrrd for Mortgage Platform Launches UTILIZING DECISIONING TECHNOLOGY, NEW AI- DRIVEN PLATFORM SEEKS TO SIGNIFICANTLY REDUCE LOAN APPLICATION PROCESSING TIME. I nfrrd, a provider of Intel- ligent Document Processing (IDP) solutions, has an- nounced the launch of Infrrd for Mortgage, a tool that automates the lending process for mort- gage origination companies and mortgage servicing entities by using the company's proprietary artificial intelligence (AI)-based IDP technology. Infrrd's tech has the ability to extract and manage essential information from mortgage borrowers' docu- ments, with the help of mul- tiple AI and machine learning technologies. The new platform allows for the extraction and classification of information from a range of mortgage-related application docu- ments and turns it into actionable data. Infrrd for Mortgage deciphers diverse types of documents, and identifies many variations of fields and images within them, expedit- ing the entire lending process, seamlessly and cost effectively. "Our launch of Infrrd for Mortgage is unveiling at an ex- tremely critical time in that it has become abundantly clear the mort- gage industry is starving for auto- mation," said Amit Jnagal, Infrrd Founder and CEO. "Our solution takes lenders one step closer to clearing a path toward low- or no-touch mortgage loan processes. By leveraging our proprietary, patented IDP technology and expertise, lenders can better scale their businesses and allow their employees to devote their time and skills to higher value tasks." Via AI technology, Infrrd for Mortgage is capable of not only extracting data, but also flagging information that may require human attention, in rare circum- stances, resulting in better use of human capital resources. ClearValue Consulting Joins Forces With ValueScape Analytics NEW PARTNERSHIP INTRODUCES AI FUNCTIONALITY TO ENHANCE APPRAISAL QUALITY. C learValue Consulting, a provider of enterprise-class vendor management tech- nology, has announced a partner- ship with ValueScape Analytics to use its artificial intelligence (AI) technology to enhance ClearValue Consulting's CLARITY appraisal review engine. The CLARITY Quality Control & Rules Engine improves the appraisal review process by using tech functions to ensure inves- tor compliance, and reduce the time appraisers spend reviewing and correcting orders. ValueScape Analytics uses AI through its Deep Learning Auditing Service, which verifies and creates evi- dence—or lack of evidence—that images, data, and narrative in an appraisal report are accurate. "ValueScape's AI technology will improve our ability to ensure appraisal compliance and manage risk for our clients," said Kevin Musick, President of ClearValue. "This partnership will also enable ClearValue to advance our quality control processes to further re- duce the time and costs involved with appraisal reviews." ValueScape notes that it has processed more than 600,000 valuation reports and nearly 10 million images. "Our strategic partnership with ClearValue Consulting brings sub- stantial improvements to our indus- try in service-level agreement (SLA), turnaround time, quality and intel- ligent decisioning in collateral risk assessment," said William Leveson- Gower, CEO of ValueScape. CLARITY works with all products, including traditional appraisals, hybrid and bifurcated valuations, broker price opinions (BPOs), and property inspections, as well as custom forms created within ClearValue's ACUITY platform. It also proactively man- ages the ordering and prompt delivery of third-party products and services. "Our solution takes lenders one step closer to clearing a path toward low- or no-touch mortgage loan processes." —Amit Jnagal, Founder and CEO, Infrrd MTECH

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