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Customer Stories

New American Funding logo

Post-Boarding Loan QC

Rapidly comparing new loan data to a system of record.

logos for awards: AICPA SOC, HousingWire Tech100 Mortgage, ISO 27001 Certified

73%
of loans confirmed accurate with no human touch

13 FTEs
became available due to efficiency gains from BaseCap reviews 

$74
savings per loan for data reviews

SCENARIO

New American Funding faced difficulties comparing data from new loans to their system of record. The onboarding team struggled to validate loans within 5 days, at which point the org must send a “Welcome Letter” to the borrower.

CHALLENGE

Before engaging BaseCap, New American Funding funneled precious resources into a manual “stare-and-compare” loan data validation process. With their onboarding team checking thousands of data fields every day, the resource strain created risk for the organization.

SOLUTION

The customer leveraged BaseCap’s automated data validation platform for the following use cases:

  • Document extraction, validation, and conversion into a database table
  • Automated comparison of document data to the system of record

RESULTS

These solutions created tangible benefits for the organization, including:

  • Efficiency gain of 81% by reducing the number of employees required for data validation
  • Enhanced focus on critical errors
  • Validation of 73% of loans without human touch

No more stare-and-compares

BaseCap helps you validate data with greater speed and accuracy. Speak to an account executive to learn more.

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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.