The system utilizes artificial intelligence (AI) technology to analyze data and generate immediate decisions on mortgage applications, thus reducing paperwork and saving time. As part of the launch, MCAP has also implemented a live human team to ensure that all decisions are accurate and that any potential issues are addressed promptly.
Since its inception, MCAP has been committed to utilizing innovative technology to improve the mortgage process. The main innovation of “Deal Run” is its use of AI to quickly scan loan applications and make decisions in mere minutes. This is significantly faster than traditional processes, which can take days or even weeks to complete. In addition, the application provides a more accurate assessment of risk, as it takes into account multiple variables and considers them simultaneously.
At the same time, it is important for the system to also remain compliant and within regulatory requirements. As such, MCAP has implemented a team of live human experts to double check every decision made by Deal Run and make sure that everything is in order. This ensures that no mistakes are made and that all decisions are accurate and legal.
Overall, MCAP’s “Deal Run” system represents a major step forward in the mortgage application process. By utilizing advanced AI technology, it reduces the amount of paperwork, saves time, and provides a more accurate assessment of risk. At the same time, having a team of live human experts provides a layer of assurance that the decisions being made are both accurate and legal. This system has the potential to revolutionize the industry and could help to streamline the entire process, from application to approval.
This article was contributed on Nov 09, 2023
