Wemlo, a U.S.-based fintech that’s targeted on mortgage loan processing, introduced on Friday the launch of its new AI expertise referred to as Athena. In keeping with Wemlo, Athena is a digital assistant AI developed to empower and enhance loan processing by figuring out discrepancies inside a mortgage loan utility, which incorporates doc verification based mostly on loan kind to mitigate circumstances.
Whereas sharing particulars concerning the AI, David Rogove, Wemlo Co-Founder, said:
“By helping to identify potential issues within the 1003 mortgage application before it is sent to lender underwriting, Athena increases efficiency for the mortgage loan originator and processor, creating a systemic approach to make sure the 1003 is full and complete and a good file is created,” stated . “And the cleaner the file, the less chance of lender delays.”
Wemlo Co-Founder, Steven Gelley, additionally commented:
“As Athena evolves with additional automated activities she will help make mortgage loan originators who use the wemlo platform more effective, and increase speed for clear to close, which in turn, may assist them in growing their business.”
Based in 2018, Wemlo describes itself the “first VIP experience” for mortgage loan originator and their debtors.
“Our platform offers unparalleled speed, security, and efficiency, allowing members to increase productivity, manage bigger pipelines and grow their business to levels that were never before possible.”