BaseCap’s mortgage quality control solution improves the way mortgage companies perform due diligence and eliminate loan defaults.
Base cap logo
Base cap logo
NEW YORK, October 5, 2021 (GLOBE NEWSWIRE) – BaseCap Mortgage Quality Control The solution improves the way mortgage companies do their due diligence and eliminate loan defaults. Assigning a value or rating to a loan has always taken several months from the initial funding and has depended on significant resources to identify problems, seek solutions and correct erroneous items. BaseCap’s approach allows the mortgage industry to immediately validate a loan not only in terms of documentary requirements and accuracy, but also against GSE investor guidelines, regulations and stipulations. Whether at close, on offer or after acquisition, any loan can be verified on the day of the request.
Starting November 1, BaseCap’s solution will be available on Microsoft Cloud for Financial Services, making it even easier for organizations to adopt.
“BaseCap’s mortgage quality control solution enables mortgage companies to create, manage and invest loans faster at a significantly lower cost,” said Steve Smith, CEO and co-founder of BaseCap. “In addition to dramatically reducing defaults, our approach is transforming the industry by accelerating lending while reducing risk. Using Microsoft Cloud for Financial Services, BaseCap integration rolls out immediately, delivering a complete, collaborative and secure solution with a single click.
BaseCap’s integration with Microsoft Cloud for Financial Services promotes collaboration without requiring employees to switch contexts, immediately notifying and resolving critical business issues in Microsoft Teams. The solution is the result of deep integration between BaseCap’s Data Quality Manager and Microsoft’s technology stack, including: Form Recognizer, Teams, Power Apps, and Microsoft Azure Data Services.
As soon as a loan is identified for review, all of its data goes through a 100% automatic review: by first validating whether all required documents are in hand, comparing them to all document data attributes captured, performing guideline checks and reviewing specific investor requirements – all summed up by an overall portfolio health score. The platform also provides intelligent root cause analysis and remedial suggestions, while supporting a collaborative approach to resolving data issues at the source.
While most due diligence costs between $ 300 and $ 600 per loan, the BaseCap loan, BaseCap solution can provide instant results up to 90% less. While this on its own increases the value of the loan and drastically lowers the cost per loan (CPL) for each loan, the real change is the ability to perform 100% due diligence, which the industry never has. considered due to prohibitive cost.
“BaseCap’s use of Microsoft Cloud for Financial Services provides a quality mortgage solution that our customers can deploy and benefit from immediately,” said Bill Borden, vice president of Worldwide Financial Services at Microsoft. “This is an example of how Microsoft and our ecosystem of partners are driving digital transformation in the financial services industry to improve productivity and manage risk. “
BaseCap’s mortgage quality control solution is readily available on the Azure Marketplace [Link].
For more information, contact:
Mortgage Solutions Manager
(877) 842-8251 ext 3
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