Paradatec, Inc., a provider of AI-based document classification and data extraction technology for mortgage loan processing, announced that Kim Weaver has joined the company as director, product strategy. Weaver will work closely with Paradatec customers to ensure the company is providing the best services and products for their needs.
Weaver has more than 25 years of experience in the financial services industry, with a focus on mortgage and consumer lending. She spent 15 years at Fiserv where she held senior roles in product management, product strategy and client delivery. She also served as a vice president at digital technology company Pyramid Systems, Inc. and as a senior business analyst at Freddie Mac. Weaver has also been active with the Mortgage Bankers Association’s (MBA’s) data standards organization MISMO.
Paradatec is an artificial technology (AI) provider for loan document processing. The company’s AI-Cloud automated loan indexing technology breaks down every loan into more than 850 specific document types and uses machine-learning tools and pre-trained libraries to find and transform over 8,500 data points trapped in mortgage loan documents into actionable data. Paradatec helps three of the 10 largest lenders and four of the 10 largest servicers in the U.S. automate the processing of loan documents.
“We’re delighted to welcome Kim to Paradatec,” said Neil Fraser, Paradatec’s director of U.S. operations. “Her vast experience in the mortgage business and with technology make her a perfect fit. Kim is also skilled in product development and strategy, as well as managing customer relationships. She understands our clients because she’s served in many key roles in the mortgage business.” “I’ve known and worked with Paradatec for over 15 years in my previous roles in the mortgage industry and am ecstatic to now be part of their team,” Weaver said. “Their expertise in applying artificial intelligence and machine learning to the automation of document processing is unmatched. Paradatec’s solutions ultimately help lenders, servicers, closing and title companies provide the best service to homebuyers and homeowners.”
“Paradatec’s … technology and its people are what drew me to come work here,” Weaver added. “I’ve spent a lot of time in my career promoting the use of native electronic documents, including eSignatures and eMortgages. To be truly effective, though, you need a comprehensive strategy for handling all of the documents associated with loan origination and servicing. Paradatec provides that solution for every step of the life of the loan.”
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