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AIVA Skills

AIVA Skills

AIVA’S ABILITY TO IMPROVE AND ADVANCE HER SKILLS IS ENABLED BY MACHINE LEARNING

Like a human, AIVA learns from her prior experience, combined with information she gathers from internal and external sources. She continuously improves by identifying patterns from large volumes of documents and receiving feedback to reinforce or realign her conclusions.

AIVA IS READY TODAY TO TACKLE SOME OF THE MOST TIME-CONSUMING MANUAL ORIGINATION TASKS

 

Current skills include:

Ordering Tax Transcripts

Collects transcripts from the IRS and sends them securely to FNMA for Day 1 Certainty®.

Ordering Assets

Sends borrowers a lender-branded invitation to securely access asset statements and maintains a detailed record of borrower status and asset position.

Pre-Approving Borrowers

Analyzes documents and interacts real-time with borrowers to ensure ready state of loan applications and generate purchase agreements.

Compile a Loan

Organize borrower documents into a complete, indexed file.

Fulfilling Loan Applications

Organizes borrowers’ documents into an indexed file.

Verifying Insurance

Reviews and tracks hazard and flood insurance policies. Today she knows 14 insurance document types and corresponding data points from 1,800+ carriers.

Reviewing Bank Statements

Reads, deduplicates and summarizes conclusions on bank statements.

EXPANDING HER SKILLS TO ADDRESS LENDER NEEDS

 

AIVA is currently training on the following skills:

Verify Income

Review W2s, pay stubs and tax transcripts against custom lender and agency rules.

Calculate Assets

Calculate borrower assets by intaking data from 401(k)s, stocks, certificates of deposits, mutual funds and bonds.

Verify State & Federal Compliance

Review Loan Estimate and Closing Disclosure, State Municipal Tests and Federal Tests via centralized and configurable rules engine.

Verify Assets

Organize and de-duplicate statements into a summary of borrower assets. Flag incomplete or non-standard patterns that might need more explanation.

Calculate Income

Provide income calculation leveraging GSE-suggested tools (1084, Freddie Form 91).

Price Loans

Evaluate risk and collateral to determine optimal pricing.

BEYOND 2019, AIVA’S EXPERTISE WILL CONTINUE TO BROADEN

 

AIVA’s creators are developing new skills to address more complex origination tasks that will add up to more efficiencies for your operations:

Review Closed Loans

Review loan files for data consistency, presence of signatures; complete and correct documents and accurately calculated ratios.

Prioritize Work

Prioritize activities to complete application based on closing date and expiration of pending stages.

Calculate Liabilities

Review Bank Statements and Credit Reports to identify liabilities. Recognize number of pages remaining for a liability.

Verify ATR/QM

Assess whether loan data complies with Ability to Repay/Qualified Mortgage requirements.

Predict Default

Calculate the probability of a borrower’s inability to pay.

CONTACT US

Address:
Black Knight Innovation Lab
1108 Chestnut Street, Suite 200
Philadelphia, Pennsylvania 19107