UNDERWRITING
Execute the configurable business rules to make faster, more accurate lending decisions.
Initial Underwrite
Prior to sending the file to the underwriter, MOZAIQ’s Checkpoint Audit platform extracts data from the loan documents using our proprietary AI model and executes configurable business rules to ensure the loan file is accurate and complete prior to sending the file to the underwriter. Examples of business rules include checking for missing and/or expired documents and validating data across documents and against data in the LOS.
Income Review
Assists loan officers, processors, and underwriters in identifying missing and expired documentation and finding discrepancies in the income calculations using the provided documentation. Based on the documentation and employment information submitted in the application, different calculation variations are provided and unsupported income is identified. As a result, originators will submit a more complete file and underwriters will be able to more easily select the income scenario that best works for the loan product.
Appraisal Review
The Appraisal Analyzer, built on the industry-leading Checkpoint Automation Platform, validates a subset of the loan’s mortgage documents, including Appraisal Reports, Title Reports, Purchase Contracts, Flood Certificates, SSRs, and more, utilizing artificial intelligence and customizable business rules to aid underwriters in conducting a thorough analysis of the loan’s appraisal, thus enhancing the efficiency and accuracy of the appraisal review process for any mortgage lender.
Credit Review
Ensures that the credit report matches the liability profile submitted in the application. Quickly identifies areas that need further review, such as residency concerns, new credit applications, undisclosed liabilities, revolving credit lines, and liabilities marked as paid off without supporting documentation. Ensures the data in the credit report matches the application, LOS, and AUS.
Asset Review
Automatically reviews the supporting asset documentation against the asset profile of the loan application and AUS. Ensures data matches the asset documentation and the LOS and quickly highlights areas for further review, such as large deposits and name or address discrepancies. Automatically adds conditions, sends notifications, and runs AUS based on the asset review.
