In the past year, Sourcepoint has introduced new automation that alleviates many of the challenges and pain points mortgage lenders and servicers have experienced, including its CoBot and First Associate Assist technologies. These technologies are already improving operational efficiencies across the board without lenders and servicers having to completely overhaul their technology platforms. CoBot is a “digital employee” that fulfills tedious, manual tasks and enables human staff to focus on work that requires judgment, thought and decision-making capabilities. First Associate Assist fills operational gaps between a company’s top performers and remaining staff that can drain revenue, exhaust employees, and keep borrowers asking for more from their lenders and servicers.
- Sourcepoint’s CoBot technology helped originators and servicers save an average 50% in cycle time, reduced the cost to close by an average of 30% and increased the staff’s productivity by 70%.
- Sourcepoint’s Title Closing CoBot uses robotic process automation to extract and classify information from four different title documents, update 82 different fields and perform between 175 to 200 data validations to create a final Closing Document in whatever title application system is being used.
- The technology automates 80% of the tasks involved with these processes while reducing loan processing time and improving data accuracy.
Company Website:
https://www.sourcepointmortgage.com/
Markets Served:
Loan Origination, Servicing
Company HQ:
Palm Bay, FL
