Tavant, a Silicon Valley-based provider of AI-powered digital lending technologies, announced today the launch of its FinDecision product for the Ellie Mae Digital Lending Platform, Encompass. FinDecision provides an automated, single-click approach to achieving loan fungibility and operational best execution across agency Automated Underwriting Systems (AUS), as well as private investors. FinDecision is a component of Tavant’s AI-powered digital lending suite of products, VΞLOX, that improves loan quality, while enhancing the overall borrower experience.
“We are committed to investing in technology that enhances the borrower experience and entitles greater efficiency, cost reduction and speed to market,” said Mohammad Rashid, Head of Tavant’s Fintech Practice. “We value our strategic partnership with Ellie Mae greatly. With FinDecision, lenders are able to provide customers with more options like appraisal waivers, reduce costs and ultimately, close more loans, faster.”
Tavant’s FinDecision uses machine learning and process automation to submit loan data with a single click to automated underwriting systems, enabling lenders to see the full view of operational benefits available to their borrowers, improving the overall borrower experience. Additionally, lenders are now able to drive downtime and cost, while improving loan quality through automation. The platform automatically analyzes each loan file to verify eligibility for appraisal waiver and collateral, income, asset representation, and warranty relief benefits. It also identifies and flags the verified income details for each applicant within the loan file.
Tavant’s Head of Product, Abhinav Asthana, said, “We are enabling mortgage lenders to thrive in the digital era. Our solutions provide loan officers and back-office teams with data and augmented intelligence and making it effortless to deliver the best possible borrower experience while maximizing loan performance in the secondary market. FinDecision provides Ellie Mae Encompass lenders more transparency, allowing them to identify the loan that is most favorable to their borrower while cutting costs and closing loans faster.”