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Customer Stories

lument and basecap analytics

UCC Deadline Tracking

Automated quality assurance

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

Faster Reviews
Rapid comparison of loans to Lument’s system of record

Employees Unlocked
QA team freed up to investigate nuanced loan defects

Greater Volume
More loan files checked every week

SCENARIO

The Quality Assurance team at Lument, a prominent mortgage lender, spent hours of manual analysis tracking UCC deadlines in their loan portfolio. If the deadline to renew wasn’t met, the business could be damaged by financial losses and loss of priority position. With BaseCap deployed, the team leader leveraged the extra time to focus his analysts on tasks that required more nuance and advanced problem-solving.

CHALLENGE

Before engaging BaseCap, Lument manually processed large batches of JSON, XML, XLSX, and PDFs on a weekly basis. Tracking UCC deadlines within these files was laborious and error-prone, leading to false positives.

SOLUTION

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

  • Automated comparison of loan files to the system of record
  • Simplified data interpretation and column mapping
  • Self-serve policy creation to target specific questions about their data

RESULTS

These solutions created tangible benefits for the organization, including:

  • Faster loan reviews
  • Greater capacity to investigate nuanced loan defects
  • Right-sized quality assurance budget
  • Enhanced reporting capabilities
  • More reliable quality control metrics

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.