Case Study: Homepoint reduces purchase review time by 33% with AIQ by ICE Mortgage Technology

Homepoint cuts purchase review time by 33% with AIQ by ICE Mortgage Technology

Homepoint, a mortgage lender in Ann Arbor that operates wholesale, delegated and non-delegated correspondent channels, faced a time-consuming, error-prone loan onboarding process: operations staff were manually comparing documents and entering large amounts of loan data during intake. Because Homepoint buys already-originated loans it must verify completeness and consistency across files, and wanted a fast technology solution that wouldn’t disrupt its proprietary systems.

Homepoint implemented AIQ by ICE Mortgage Technology’s automated file intake (AFI) using automated document recognition (ADR) and automated data extraction (ADE) to sort and name documents, extract and compare 500+ data points, and surface discrepancies for human review. The change cut purchase review time by 33%, reduced errors and risk, sped purchase decisions and improved correspondent service, while providing a scalable, API-friendly platform that frees staff to focus on decisions and further automation.

Homepoint

Maria Fregosi

Chief Capital Markets Officer