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Blue Sage Solutions and Paradatec Team Up to Increase Correspondent Efficiency

Blue Sage Solutions, LLC and Paradatec, Inc. recently integrated their solutions to improve delivery and turn times for correspondent loan sales and submissions, including automating document checks and audits, the companies announced. 

handshake 220233 1280Blue Sage, developers of the Core Seller Portal, a browser-based, end-to-end mortgage origination lending system, and Paradatec, provider of the AI-Cloud document classification and data extraction technology for mortgage and real estate documents, recently integrated their respective solutions.

As a result, sellers can easily upload loan documents through Blue Sage’s Core Seller Portal and process them through AI-Cloud, Paradatec’s automated document indexing and data extraction solution, which uses machine learning tools and pre-trained libraries to extract over 8,500 data points from over 850
documents to eliminate rekeying of data and manual indexing tasks.

Paradatec’s engine then returns indexed documents and data to the Blue Sage platform where automated workflows perform missing document checks and data audits, with intake staff notified of any data exceptions for manual review. Finally, the perfected data is then accessible via integrations for third-party compliance and due diligence reviews, eliminating manual work typically associated with these tasks.

Planet Home Lending, a top 10 correspondent lender, found the combined tools helped improve customer experience while reducing costs and approval turn-times. “We continue to invest in new streamlined solutions to support existing sellers and make it easy for new sellers to become productive immediately,” said Planet Home Lending Senior Vice President of National
Sales, Correspondent James Loving. The increased efficiencies helped the company reduce turn-times after Planet acquired certain delegated correspondent assets from Homepoint last summer.

Read the full announcement. 

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