What does Christmas remind you ?

These words seem like Deja vu, especially with Christmas approaching and with how the year has been for most of us in the mortgage industry.

2022 has been one hell of a ride !

While we’re all set to enjoy some Christmasy time off with family - let’s pause and reflect a bit.

The year started on a fairly high note for the industry, with mortgage rates relatively low and production volumes still in the green.

At Vaultedge, we kept up by forging two key partnerships that we are super proud of:

• First, we became a Microsoft cosell partner. This means Microsoft now works closely with Vaultedge to offer AI-based Automated Document Recognition (ADR) & Automated Data Extraction (ADE) solutions to top mortgage lenders & servicers.

• Second, we successfully completed our integration with Encompass. Vaultedge is now available as out of box integration to provide underwrite ready loan files right within the Encompass LOS environment.

As mortgage rates increased from a sub 3% to 5+%, highest ever in the past 12 years - lenders responded by diversifying their origination channels & rationalizing their fixed costs.

At the time when many lenders were expanding into non-agency products targeting the self employed millennials & Gen Z, we rolled out the Vaultedge Income Analyzer.

This struck a chord because underwriters have a hard time calculating their income from the various documents-W2, tax returns, bank statements, pay stubs etc.

Vaultedge Income Analyzer simplifies this.

It automatically calculates the income for W2 and self-employed borrowers within a short span of time reducing cost to company for the lenders by 54%.

With ROI & productivity becoming the central theme, we tried simplifying loan processing experience by adding new capabilities.

On top of our AI powered ADR / ADE we added title search automation, customer dashboard and extraction UI enhancements.

With all this, we processed nearly 50 million pages of loan documents across companies like Ocwen, Angel Oak, BSI Financial and Valon Mortgage.

However, it wasn’t all work for us - we headed off to a team offsite & let our hair down.

Man, it was fun !

Looking back we realize that the mortgage business is a journey much like life - sometimes it’s up, sometimes it's down.

To stay in the game, one needs down time.

This is what Christmas reminds us of.

This is what Nora tells us too - "Nothing ever seems too bad, too hard, or too sad when you've got a Christmas tree in the living room."

Enjoy the downtime with family & self.

And come back stronger in 2023.

Merry Christmas & Happy Holidays 😊