MCM has announced its new Artificial Intelligence Fallout Analytics Service: “CloseLytics.” MCM’s founder states: “The guessing game of what’s my mortgage pipeline exposure is over….”
AI has many applications in the mortgage industry and too many to mention in this short blog. Many companies have significant amounts of data from previous borrower transactions and in pipeline data from potential borrowers. The required types of data and the storage of data is different for different parts of your company.
Since 1995 MCM has been working with Neural Networks for various projects including fallout prediction on a loan level basis. Initially the technology was slow and less than optimal, however, with the new tools, speed of processing available and techniques we have developed, Neural Networks/ AI has come to fruition.
MCM is pleased to announce the roll-out of its Open API. This API conforms to the Open API Specification and allows clients to integrate their LOS information with MCM’s Hedge Analytics and Reporting software.
The moral hazard issue regarding mortgage servicing and its primary cause stems from the GAAP accounting ruling.