The Intelligent Mortgage Platform®

Presented by:

Disrupting a labor-driven industry entrenched in fragmented systems & heavy

regulations with a single platform that empowers consumers, drives down

costs, and automates the loan process.

Key Points: Automate over 70% of the entire loan process

– not just labor costs

iMP, not people, drives workflow

Have a guaranteed approval on a loan within minutes of applying

Replace massive human error with tech driven completely by data, not images

Empower consumers to drive the loan. Tech when they need it, people when they don’t

Give consumers a single platform to shop for a loan, shop for a home, apply, and interact even on a tablet/mobile

1000’s of rules driven from 5,000 data points operating throughout the loan process

Full Mobile experience, what can you afford, shop for rates and search for homes.

Automate entire disclosure process.

Great UI written in cloud-based Angular

Gamify the loan process

Service Oriented Architecture (SOA) integrating best of breed vendors creating one great experience for users.

Each loan is driven by a characteristic score and a pre-determined # of tasks needed to complete

Reduce closing a loan from 4-6 weeks to days

The Mortgage Industry is out of control

Since the 2008 collapse, the mortgage industry has been in disarray.

From the lenders standpoint, out-of-date processes and systems have

caused production expenses to increase by 175%. Closing a loan has

taken more time and become more difficult than at any point in the

past 30 years.

Consumers are feeling the pain and frustration because of

inconsistencies in the loan process. Items that have been overlooked by

a lender for weeks and even months are now being required at the last

minute. These “surprises” can jeopardize the deal and cause undue

anxiety for a new home buyer thinking this loan can fall through and

crushing the excitement of home ownership.

Getting a home loan should not be that difficult. Given that we sell

loans to the same institutions (GSE’s & big banks), a consumer should

have a consistent experience from the industry no matter what lender

they choose. The problem is the mortgage industry has been trapped in

a LOS centric (Loan Origination System) model where lenders rely on

paper and people’s own discretion rather than raw data and technology

to drive the loan process. A new cloud-based infrastructure must be

built that shelves the antiquated LOS model and replaces it with a single

platform where rules around data, not people, drive the entire loan

process and where consumers can have a transparent experience on

any device 7/24.

A New Solution

The intelligent Mortgage Platform® (iMP) came about in a unique

fashion. Being built and capitalized within a top 30 lender has

allowed for unparalleled access to the true problems of what

happens inside a typical lender and what is actually needed to get a

loan closed faster & cheaper. The technology itself uses a Canonical

Data Model, robust Business Rules Management System (BRMS)

and Business Process Management (BPM) to drive rules around

data that comes in from the various vendors and documents that

are part of closing a loan – all elements absent in an LOS-centric

infrastructure.

There is no fragmentation and no need for a user to go outside of

the system due the deep integrations with best-of-breed vendor

partners. The biggest difference in the iMP versus a typical LOS is

data. Most LOS’s have vendor integrations however those

integrations result in images/PDF’s coming back, not data. This

poses a major inconsistency problem in processing a loan because a

lender must rely on people to look at images and make decisions on

a course of action. In addition, a human-orchestrated process rather

than a data-driven process results in undocumented and

unsanctioned manual workarounds which cannot be measured.

The old way The new way

An Intelligent Task-Driven Workflow

More than just a robust architectural platform, the iMP is solving the

lending industries problems by building a task-driven intelligent workflow.

In order to automate over 70% of the process, we needed to get into the

granularity of all the possible outcomes for every step in a loan cycle. For

example, what is the course of action if an appraisal doesn’t come in at

the value expected? What happens if the borrower purchases a new item

that appears on his credit report right before the loan closes or he wants

to get more cash out? What about when a background search shows he

owns other properties not accounted for?

By defining every step of the loan process as a task and giving each loan a

score based on its characteristics, our BPM engine can now accurately

know exactly how many tasks it takes to complete a loan, handle those

tasks that should be automated, determine how long each task should

take to complete and when to push a task to a person (ex: call State

Farm to get an updated Homeowner policy with a new Loss Payee).

Key Benefits

Building a Canonical data-driven platform, coupled with defining the tasks

associated with every loan scenario, the iMP delivers many key benefits

for consumers and the lending industry.

Minimizes human work orchestration & maximizes automated work orchestration

Greatly reduces closing times

Provides for unparalleled loan decisioning capabilities within minutes of applying

Increases profitability by eliminating redundant processing steps & manual components

Breaks dependency on the expensive hire/fire model of dealing with industry cyclicality.

Empowers consumers with a more transparent/pro-active experience of the whole process & minimizes surprises

Reduces confusion by having title/escrow, borrower, realtor and lender communicate in the same system

Automates compliance requirements by issuing state and federal required initial/subsequent disclosures throughout the loan cycle

Learn More To learn more about the intelligent Mortgage Platform®, contact us at

kyle@cloudvirga.com.

“The first rule of any

technology used in a

business is that automation

applied to an efficient

operation will magnify

efficiency. The second is

that automation applied to

an inefficient operation will

magnify the inefficiency.”

-Bill Gates