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Mortgage Quality Control Powered by BaseCap

basecap and microsoft partner to bring cloud-powered data solutions to the mortgage industry

Mortgage Quality Control Powered by BaseCap - To Be Available on Microsoft Cloud for Financial Services  

New York, New York – BaseCap Analytics’ mortgage data quality solution is enhancing the way mortgage companies conduct due diligence and eliminate lending defects. Assigning a value or grade to a loan has always required a delay of months from initial funding and has depended on significant resources to identify issues, track down solutions, and rectify erroneous elements. 

BaseCap’s approach enables the mortgage industry to immediately validate a loan not only in terms of document requirements and accuracy but also against GSE guidelines, regulations, and investor stipulations. Whether at close, bid, or post-acquisition, any loan can be verified on the day of the request. 

Beginning November 1, BaseCap’s solution will be available on Microsoft Cloud for Financial Services, making it even easier for organizations to adopt. 

 ”BaseCap’s Mortgage Quality Control solution enables mortgage businesses to originate, service, and invest loans quicker for significantly less cost,” explained Steve Smith, CEO & Co-Founder of BaseCap. “In addition to dramatically reducing defects, our approach is transforming the industry by accelerating lending while reducing risk. By using Microsoft Cloud for Financial Services, BaseCap’s integration deploys immediately, delivering a complete, collaborative, and secure solution with the click of a button.”  

“In addition to dramatically reducing defects, our approach is transforming the industry by accelerating lending while reducing risk. By using Microsoft Cloud for Financial Services, BaseCap’s integration deploys immediately, delivering a complete, collaborative and secure solution with the click of a button.”  

BaseCap’s integration with Microsoft Cloud for Financial Services drives collaboration without requiring employees to context switch, immediately notifying and resolving critical business issues in Microsoft Teams. The solution is a result of deep integration between BaseCap’s Data Quality Manager and Microsoft’s Technology Stack, including Form Recognizer, Teams, Power Apps, and Microsoft Azure Data Services.   

The moment a loan is identified for review, its entire dataset is subjected to a 100% automatic review: validating first whether all required documents are in hand, comparing against all captured document data attributes, performing guideline checks, and reviewing specific investor requirements – all summarized by an overall portfolio health score. The Platform also provides intelligent root cause analysis and remediation suggestions while supporting a collaborative approach to resolve data issues at the source.    

While most due diligence operations cost anywhere between $300 and $600 per loan, BaseCap’s solution can deliver an instant result for up to 90% less. While this alone increases the value of the loan and significantly decreases Cost Per Loan (CPL) for every loan, the real game-changer is the potential to perform 100% due diligence, something the industry has never considered because of the prohibitive cost.   

While most due diligence operations cost anywhere between $300 and $600 per loan, BaseCap’s solution can deliver an instant result for up to 90% less.

“BaseCap’s use of Microsoft Cloud for Financial Services provides a mortgage quality solution that our customers can deploy and benefit from immediately,” said Bill Borden, corporate vice president of Worldwide Financial Services at Microsoft. “This is an example of how Microsoft and our partner ecosystem are driving digital transformation in the financial services industry to improve productivity and manage risk.”    

BaseCap’s Mortgage Quality Control solution is readily available in the Azure Marketplace.

 

Media Contact

Jesse Webb
Director of Content & Brand
jesse.webb@basecapanalytics.com

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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.