Automation Revolutionises Mortgage Quality Control Process
BlinkQC introduces an automated quality control process for mortgage files that drastically reduces review time and enhances accuracy, utilising advanced AI technology over traditional methods.
The quality control (QC) process, mandated by Fannie Mae and Freddie Mac, requires lenders to review 10% of all mortgage files prior to closing. Traditionally, QC is conducted by third-party providers or internal teams using separate systems, which costs between USD 150 and USD 200 per file and may take up to two days for each review.
However, a new solution from BlinkQC aims to transform this process. By leveraging proprietary AI and advanced DOC AI technology, which is claimed to be more accurate than traditional optical character recognition (OCR), BlinkQC automates the entire QC process in just three minutes. This innovative system boasts a 95% data extraction accuracy rate, even with the most complex, multi-page documents.
BlinkQC’s solution incorporates over 400 compliance rules, assuring thorough and automated reviews that greatly exceed the capabilities of traditional OCR technology.
