See Demo

Category: BLOG

Unlocking Self-Serve OCR

Optical Character Recognition (OCR) converts text in pdfs and images into machine-readable data. BaseCap makes OCR self-serve for everyone at your org.

Simplifying Massive Data Transfers

There are segments in nearly every industry where moving, boarding, or transacting on data is critical to business operations. Hear from Steven Smith about the new technologies that makes large data transfers easier and more accurate.

Optical Character Recognition

woman wearing glasses while reading paper documents in front of her laptop

The ability to extract data from documents has forever changed how businesses ingest, track, and validate critical information. Before Optical Character Recognition (OCR) Before the digital age, data was entirely collected on physical formats such as an application form or an invoice. To compare this data to other sources of information, like an excel spreadsheet, […]

Changes to the Regulatory Environment: Dodd-Frank Rollbacks

On May 22nd, 2018, Congress approved the first major Dodd-Frank rollback to relax federal oversight for banks with less than $250 billion in assets. This revision brings the number of banks categorized as systemically important (SIFI) and subject to stricter federal oversight from 38 to be 10 or less. This change frees many mid-sized banks […]

FDIC Insurance Premiums and Basel III

The Federal Deposit Insurance Corp introduced a series of proposals this week aiming to align new Basel capital standards for banks and FDIC insurance assessments. The proposals would revise the way the FDIC calculates payments required for the agency fund designed to protect depositors against bank failures. The FDIC takes into account institutions’ capital levels […]

linkedin
youtube

BaseCap is the data health tracker that helps you diagnose and solve business challenges.

200 Broadway
New York, NY, 10038

877 842 8251

Site Map

Use Cases

Industries

Resources

© Copyright 2022 BaseCap, All Rights Reserved    |    Privacy Policy

Terms & Conditions

24 Hour Loan Due Diligence Guarantee

Guarantee Offer:
We guarantee a 24-hour turnaround time for performing a standardized diligence checklist and providing a certification for eligible loans. If we fail to meet this commitment, we will provide a credit for the affected loan on the client’s next loan submission. This guarantee timeline does not apply to exception resolution and subsequent reruns of loans.

Conditions & Exclusions:

This guarantee applies under the following conditions:

  1. Cutoff Times & Business Days:
    1. The 24-hour period begins from the time of submission, provided it occurs before the daily cutoff time as defined in the contract.
    2. 2.Submissions received after the cutoff time will be treated as received on the next business day, and the 24-hour period will begin from that point.
  2. Force Majeure & System Outages:
    1. This guarantee does not apply in the event of Microsoft Azure outages, broader cloud service disruptions, or any force majeure events beyond our control.
  3. Third-Party Dependencies:
    1. If document scans, data files, third party reports or other required materials are delayed due to our provider or an integration partner, the 24-hour clock will not begin until all necessary documents and data are received.
  4. Volume Spikes:
    1. If loan volume exceeds 30% of the rolling 30-day average, we reserve the right to temporarily suspend the 24-hour guarantee until processing volumes return to normal or are reflective of the new increased average.
  5. Exclusions & Modifications:
    1. We reserve the right to modify or suspend this guarantee at our discretion in the event of circumstances beyond our reasonable control.
    2. The credit applies only to the next loan submitted by the client and has no cash value.

By submitting a loan for diligence under this guarantee, the client acknowledges and agrees to these terms.