Mortgage technology company Capsilon announced the beta launch of Capsilon Digital Underwriter, a suite of cloud-based mortgage applications for lenders.

The launch comes in collaboration with Home Point Financial, a national mortgage origination and servicing company. The tool aims to help lenders leverage data to make more informed loan eligibility decisions faster by automating the underwriting process.

Steve Viarengo, SVP of Digital Mortgage Solutions, pointed out that compliance and regulatory guidelines have complicated the mortgage underwriting process, declining the mortgage underwriting velocity to 85% in the past 10 years.

Capsilon Digital Underwriter runs on Capsilon IQ, the company’s digital mortgage platform that gathers mortgage data by leveraging machine learning and natural language processing. Because Capsilon collects data from the original loan record, lenders have evidence of data points behind each decision. “You can’t automate underwriting without trusted data,” said Bill Shuler, Chief Information Officer of Home Point Financial. “Capsilon elegantly combines the ability to capture and perfect mortgage data with robust automation capabilities.”

Phil Shoemaker, Chief Business Officer of Home Point Financial, said “Capsilon Digital Underwriter will significantly improve our underwriting productivity and in some cases, we believe loans can be underwritten without any human intervention. This will enable us to significantly speed up the loan origination process while focusing our talented ops team on providing best-in-class customer service to our business partners, helping them originate more loans.”

Founded in 2004, and with eight offices around the globe, Capsilon processes 15% of U.S. mortgages, and managed $400 billion in new loans in 2017 alone. At FinovateSpring 2017 the company showcased its Mortgage Velocity program that speeds up loan delivery by eliminating the need for manual tasks and human error.

Capsilon has raised $21 million and is headquartered in San Francisco, California. Sanjeev Malaney is CEO. The company will demo its latest technology at FinovateSpring, held May 8 through 10 in San Francisco. Book your ticket now.