Since its primary customers are trust companies, VeriComply acts as a sub-verification agent or document custodian. Basically, on getting the loan documents, it extracts data and compares it with loan/data tapes. Outcomes are then discussed with originators and trust company partners to remove any discrepancies. The report is then sent to the client notifying approval status. Loans are verified on various parameters and cover all characteristics of a loan: term, rates, state of origination, APR, etc. It also incorporates the borrower’s information for better analysis.
Considering this is an important cog in the selling of loans in secondary markets and securitization, automating the process gives credibility as well as integrity to the entire portfolio when it sells.
The state-of-art technology used to build the platform means it can quickly configure for multiple originators, loan types, documents, and various field verifications. Fees are charged for the configuration set up, per loan process, and for monthly storage.
Read the full article: https://lending-times.com/2017/12/08/asset-verification-for-mpl-secondary-markets-and-securitizations/
DocuNECT – The Complete Virtual Printing Solution
/in DocuNECT, News /by Bruce BoltonUsing the DocuNECT virtual print driver can extend document capture to applications that do not easily expose documents or integrate with document management systems. As long as the application is print enabled, the virtual print will work. Document management systems are structured environments that often store business data (index values) along with the document so it can be classified correctly.
What is a Virtual Printer?
The virtual printer is software that appears as a new printer on your machine. Ho
Automating Document Data Extraction and Verification
/in DocuNECT, News, Software /by Bruce BoltonDocuNECT manages the complete lifecycle of a document from capture through to retention and easily integrates with third-party document management systems. The lifecycle can be mapped to capture the documents, extract/review data from documents, present issues in a workflow and then release to your document management system.
This model can be applied to many different business scenarios, such as loan verification, accounts payable, human resource on-boarding and many more.
A DocuNECT Lifecycle Application: VeriComply Used for Asset Verification for MPL Secondary Markets and Securitizations
/in DocuNECT, Financial Services, News /by Bruce BoltonSince its primary customers are trust companies, VeriComply acts as a sub-verification agent or document custodian. Basically, on getting the loan documents, it extracts data and compares it with loan/data tapes. Outcomes are then discussed with originators and trust company partners to remove any discrepancies. The report is then sent to the client notifying approval status. Loans are verified on various parameters and cover all characteristics of a loan: term, rates, state of origination, APR, etc. It also incorporates the borrower’s information for better analysis.
Considering this is an important cog in the selling of loans in secondary markets and securitization, automating the process gives credibility as well as integrity to the entire portfolio when it sells.
The state-of-art technology used to build the platform means it can quickly configure for multiple originators, loan types, documents, and various field verifications. Fees are charged for the configuration set up, per loan process, and for monthly storage.
Read the full article: https://lending-times.com/2017/12/08/asset-verification-for-mpl-secondary-markets-and-securitizations/