Understanding intelligent automation in the mortgage industry

Mortgage industry organizations are constantly looking for ways to save time, reduce costs, and deliver a competitive advantage. Increasingly, they are using technology to do so. Artificial intelligence (AI) and robotic process automation (RPA) are now among the top contenders for technology investment, due to their potential to transform business operations and accelerate results.

The use of AI, RPA, and other technologies in the loan origination process provides data and actionable insights affecting everything from leads to loans and supporting documents. Leveraging those outputs, Ellie Mae, now a part of ICE Mortgage Technology, has crafted solutions to deliver intelligent automation across entire processes so that lenders, investors, and servicers can realize scalable productivity gains, balanced with the expertise and judgement of human review.  

Our new eBook, entitled Achieving Automation with AI & RPA details the steps lenders can take to fully understand the intelligent automation landscape, and select the right technology solution. In this post, we break down some key elements of this eBook, starting with important building blocks.  

The right stuff: Building blocks to automation success

Effective AI solutions must first rely upon iterative processing and experimentation to establish benchmarks related to the current state and clarity of business metrics. In addition, we must consider overall data health, where discipline around data infrastructure, collection, and governance helps drive results. Also consider that an AI solution cannot exist in isolation, and the underlying model and server architecture must integrate with existing products and workflows. Once deployed, the solution needs to be properly instrumented and monitored to ensure proper performance and expected outcomes. Finally, assembling a team that can design, develop, deploy, and iterate an effective solution within the context of the mortgage industry and your existing loan origination solution, will separate a merely good product from a great one. 

Keeping all of this in mind, mortgage industry organizations should expect the following from their automation solution:

  • Efficacy to learn and adjust through continuous experimentation
  • Rapid time to market to quickly realize return on investment 
  • Scalability to address the needs of any sized organization
  • Flexibility to blend machine training and human review to fit varying needs 
  • Security and stability that adheres to clear data security and data governance standards 

It’s all about the data

Data is central to the development of truly scalable and effective AI and RPA solutions, and the sheer volume and velocity of data demands access to both recent and historical insights. Data exploration and experimentation helps to separate valuable insights from “noise.” And, in the end, data management is at the heart of any automation effort, and opens the door to meaningful results.

Automate to win with AIQ by ICE Mortgage Technology

Iterative machine learning and a clear, intuitive process for tapping into the knowledge and judgement of talented teams are at the heart of AIQ by ICE Mortgage Technology’s intelligent automation offering. We have developed our solutions to address critical points of friction within the loan origination process and inefficiency based on decades of close collaboration with our customers and partners. The results are solutions that are optimally positioned to support the key priorities of lenders, investors, servicers, and stakeholders across the mortgage industry.

Access the full eBook below to start planning your intelligent automation journey. 

Keep your AI momentum going...

Listen to our “Get peace of mind in the unknown with RPA and AI” podcast to hear Eric Kujala, Product Marketing Director at ICE Mortgage Technology, and Nolan Johnson, Sales Engineer, HPA at A Cognizant Company, discuss the key things to consider when evaluating RPA for your business. 

Plus, remember to register for Experience 2021 to access exclusive content to help you accelerate AI adoption, ask questions at live Q&A sessions with subject matter experts and connect with peers facing similar challenges on their AI journey.

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