Capsilon, a provider of cloud-based digital mortgage solutions for mortgage companies, today unveiled its vision for the future of mortgage production and servicing with the announcement of the Capsilon Digital Mortgage Platform, powered by Intelligent Process Automation.
Nearly a decade of regulatory changes has dramatically increased the cost of mortgage production and buy-back risk, while squeezing margins from origination to sevicing. And, today’s consumer increasingly expects the mortgage process to mirror other frictionless transactions they conduct online. These industry dynamics have forced originators, loan purchasers and servicers to reevaluate their operations to reduce production costs, ensure data integrity, and provide consumers with a user experience that rivals other highly rated online transactional experiences.
Capsilon’s vision for the modern digital mortgage factory defines a new standard for an end-to-end digital experience that goes beyond just an online application to offer a data-driven digital process that streamlines the mortgage production and servicing process through artificial intelligence-driven automation. The Capsilon Point of Sale (POS) Portals, also announced today in a separate news release, are seamlessly integrated entry points to the digital mortgage factory. By integrating POS portals with the digital mortgage factory, lenders are able to elevate the customer experience throughout the entire mortgage process with increased production velocity and improved collaboration.
The new Capsilon Digital Mortgage Platform doesn’t replace a loan origination system (LOS). Rather, it integrates with leading LOS’s and uses Intelligent Process Automation to automatically complete key steps throughout the mortgage production process, from the initial loan application to delivery to investors. Unlike Robotic Process Automation, which uses computer programs to mimic simple manual tasks, such as data entry, Intelligent Process Automation uses contextual artificial intelligence to understand which documents, data and rules are required to accomplish key tasks at every step of the mortgage production process, and automatically completes these steps. Human intervention is required only for items that fall outside of established parameters.
“UWM shares Capsilon’s vision of how the mortgage industry needs to transform,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “We’ve partnered with Capsilon for years and think their technology has been key to helping UWM become the #1 wholesale lender in America.
“The Capsilon Digital Mortgage Platform transforms the speed, user experience, and economics of the mortgage process,” said Sanjeev Malaney, CEO of Capsilon. “By leveraging the power of the cloud and intelligent process automation, the platform automates existing mortgage production and servicing processes into a modern digital factory that offers a true end-to-end digital process that delights consumers and gives mortgage companies a disruptive economic advantage.”
Built with a rich API set, the Capsilon Digital Mortgage Platform is an open platform with a strong, and growing, ecosystem of integrated complementary technology solutions that enable lenders to build the digital mortgage factory that meets their business goals.