Wemlo introduces AI to mortgage processing
DENVER, Nov. 20, 2020 /PRNewswire/ — wemloSM, an innovative fintech company that provides third-party mortgage loan processing services has launched ATHENASM, the new technology logic and intelligence behind the wemlo platform.
A 22-month-old, Florida-based startup, wemlo is reshaping mortgage loan processing in the mortgage broker channel. Wemlo developed the first solution for mortgage brokers that combines third-party loan processing with an all-in-one digital platform. Its product offering is the only enterprise-grade solution of its kind in the mortgage brokerage space.
Athena is a virtual assistant AI technology developed to empower and improve loan processing by identifying discrepancies within the mortgage loan application including document verification based on loan type to mitigate conditions.
«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,» said David Rogove, a wemlo co-founder. «And the cleaner the file, the less chance of lender delays.»
This intelligence continues with the ability to request title and automatically generate fees. «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,» added wemlo co-founder Steven Gelley.
The mortgage broker channel is ripe for change, and wemlo’s goal is to provide loan originators with a transparent processing solution with a strong technology foundation. Interested in wemlo third-party processing services? Visit wemlo.io to get started today.
WemloSM is a technology-focused mortgage loan processing startup that is reshaping the mortgage broker channel. It developed the first cloud service for mortgage brokers, combining third-party loan processing with an all-in-one digital platform. Its product is marketed and sold to mortgage brokerages and loan originators across the country. Wemlo is a subsidiary of RE/MAX Holdings, which includes RE/MAX®, one of the world’s leading franchisors of real estate brokerage services, and Motto Mortgage®, the first national mortgage brokerage franchise brand in the U.S.
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