Lender Toolkit’s AI Underwriter™ Transforms the Mortgage Process by Generating a List of Loan-Level Needs in 90 Seconds or Less


The AI-powered platform speeds up the underwriting process with its mission-critical mortgage automation capabilities.

AI underwriter

AI underwriter

SALT LAKE CITY, Aug. 02, 2022 (GLOBE NEWSWIRE) — While loan officers and processors have traditionally had to rely on educated guesses during the origination process, Lender Toolkit’s AI Underwriter™ has emerged as a transformative solution for the laborious underwriting process. AI Underwriter™ takes the guesswork out, providing initial loan-level data-driven conditioning. This creates consistency from start to finish in the mortgage manufacturing process and gives loan officers the ability to secure underwriters’ terms in real time, as opposed to the 24-48 hour waiting periods that are too common with manual processes.

Approvals based on data verified by AI Underwriter™ are accessible at the push of a button. As a result, loan processors, loan officers, borrowers and underwriters are all able to take advantage of this innovation.

With AI Underwriter™, processors can automatically review multiple data points, such as customer credit report information, AUS (Automated Underwriting System), appraisal review, and even FHA (Federal Housing Administration), among others. The platform also provides a loan-level checklist to help processors determine relevant information in a given file and replace product-level checklists with loan-level packaging.

This loan-level conditioning capability enables lenders to provide information to borrowers in real time. This results in an improved customer experience, as borrowers can instantly recognize what is needed to complete a loan. This leads to more referrals from real estate agents and saves time for loan officers. It also gives loan officers a competitive advantage, as this technology can be essential for direct loan approvals.

Underwriters can improve the consistency of their submissions by avoiding all the tedious tasks associated with package packaging. AI Underwriter™ automatically completes document expiration dates, closing instructions, closing cash totals, and more.

Underwriters can maintain complete confidence knowing that AI Underwriter™ will catch anything they might miss in sections like state-specific net tangible benefit disclosures, corporate overlays, and underwriting program terms. secondary loan (including non-QM, jumbo and bond loans). Lender Toolkit’s new Prism feature also offers time-saving benefits, as the platform automatically calculates CPU revenue, eliminating the need for underwriters to perform manual calculations.

AI Underwriter™ can integrate with credit providers such as CoreLogic Credco (digital certificate), Equifax Mortgage Solutions, and MeridianLink, Inc., as well as AMCs (evaluation management companies), such as Mercury, Dart Appraisals and ValueLink Core (MyAMC). Integration with fraud tools and AUS (Automated Underwriting Systems) such as Fannie Mae Desktop Underwriter (DU), Freddie Mac Loan Prospector (LPA) and FHA Total Scorecard is also available.

The vast majority of competitors do not offer the level of customization available through the AI ​​Underwriter™ platform. With the Condition Builder feature, users can customize and add any of the over 600 available conditions with their own verbiage, including custom programs, overlays, and more. The feature even allows the use of custom fields in the user’s system, adding yet another layer of personalization to the process.

To learn more about Lender Toolkit’s innovative and transformative AI Underwriter™ platform, please visit https://hubs.la/Q01hj7lM0.

About the Lender’s Toolkit

Lender Toolkit is the partner of choice to deliver the digital mortgage experience you desire. Lender Toolkit’s industry-leading technology solutions, combined with our technology and business experts, uniquely position us to help our customers get the most out of Encompass and its integration capabilities.

Contact information

Brent Emler, Sales Manager

sales@lendertoolkit.com / 801-784-6514

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