Solution Spotlight: Automated Appraisal Review

Increase Productivity by 100%

In 2023 MOZAIQ released the AI-Powered Appraisal Analyzer solution, built on top of the industry-leading Checkpoint Audit Platform. The Appraisal Analyzer validates a subset of a loan’s mortgage documents, including Appraisal Reports, Title Reports, Purchase Contracts, Flood Certificates, SSRs, and more, utilizing artificial intelligence (AI) and customizable business rules to aid underwriters in conducting a thorough analysis of the loan’s appraisal, enhancing the efficiency and accuracy of the appraisal review process for any mortgage lender.

Multiple customers are now running the Appraisal Analyzer in production. They have all achieved 100% productivity gains, meaning that the underwriters performing the Appraisal Review have doubled throughput, and are now processing twice the number of loans in the same period of time (i.e., processing time has been cut by 50%), while ensuring that the accuracy of the review remains at or above the required levels.

Besides a productivity gain of 100%, the Appraisal Analyzer has enabled our customers to achieve additional direct and indirect benefits:

  • Reduced Cost per Loan—for a lender with an average processing volume of 1,000 loans per month, they can save approximately $500,000 per year.
  • Improved Loan Quality—reduce errors through automated business rules, and allow the expert underwriter or auditor to work the exceptions and perform follow ups.
  • Unparalleled Scale—enable 2x the loan processing throughput 24×7.
  • Enhanced Customer Relationships—the faster loan turn-around time and the higher loan quality strengthen the customer and broker relationships and increases the lender’s competitive advantage.

Contact MOZAIQ today to find out how intelligent mortgage automation can save you time—by increasing processing efficiencies by 100%, and money—reducing loan origination costs by up to 50%, making your expert resources even more productive.

Note: This blog post was written by a real human and does not contain content generated by ChatGPT or any other Generative-AI platform.

Find out how we can support all of your intelligent mortgage automation needs.BOOK A DEMO