"Longbridge found an opportunity to improve how it verifies loan data between its origination system and loan documents during servicing transfers. After reviewing several options, the company chose One Diligence to provide a machine learningbased solution, the release said. Since implementation, we've already seen more than a 60% reduction in common data errors, directly contributing to a smoother borrower experience, said Richard Burke, senior vice president of servicing and operations at Longbridge Financial."
"The One Diligence platform uses multiple AI technologies to analyze each document, compare data across sources and automate the validation of key information. The company says the system eliminates manual data entry and delivers verified results to subject matter experts within minutes. The efficiencies that Longbridge has gained using the One Diligence AI platform have significantly enhanced their loan boarding process, said Alex Goldovsky, CEO of One Diligence."
Longbridge identified gaps in verifying loan data between its origination system and loan documents during servicing transfers and selected One Diligence's machine learning solution. Since implementation, Longbridge has reported more than a 60% reduction in common data errors and a smoother borrower experience. The One Diligence platform applies multiple AI technologies to analyze documents, compare data across sources and automate validation of key information, eliminating manual data entry and delivering verified results to subject matter experts within minutes. The automation has enhanced loan boarding, reduced exceptions, improved data accuracy and enabled tracking and correction of recurring data issues.
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