The updated version of AuditGenius uses the company’s “Genius” technology stack – an interconnected and proprietary blend of technologies – to help AuditGenius users meet extremely stringent quality control requirements. At the same time, the technology is designed to reduce the need for excessive manual checks and rechecks.

“In today’s mortgage market, lenders want to strengthen quality control without increasing resources,” said Rachel Harris, senior vice president of product management. “By incorporating this foundational technology into AuditGenius, the idea is to provide thorough, in-depth, large-scale pre-funding loan audits that proactively identify data and document defects that could otherwise lead to reforeclosure risk.”

Staircase

Staircase has launched a new tool designed to help private mortgage insurers instantly automate the underwriting of non-delegated mortgage industry policies for lenders, at what it claims will be half the usual cost.

The tool, called MI Underwriting, fully automates the non-delegated underwriting process by sourcing documents and data directly from lenders so policyholders can make instant policy decisions. It also comes with a built-in quality control review. In addition, it relies on technology from Staircase Loanboarding, which uses machine learning tools to transform raw loan documents into unstructured data.

Staircase is a low-code API and marketplace that automates complex technology and makes it self-service in the US home mortgage industry.

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