Veptas and Flueid Software Corp. Announce Collaboration to Transform Loan Servicing With Artificial Intelligence Mortgage Platform

The mortgage industry is facing unprecedented challenges which require leveraging data & artificial intelligence (AI) to proactively deliver knowledge-based solutions efficiently and cost-effectively within today’s marketplace.

Press Release

updated: Apr 8, 2020

Veptas, the leading provider of Artificial Intelligence in the mortgage analytics field, and Flueid Software Corp., today announced a collaboration to harness the power of AiCurio from Veptas with TitleCheck. TitleCheck analyzes possible property and consumer title underwriting issues to immediately provide an accurate clear-to-close decision. 

Powered by Artificial Intelligence, AiCurio is the world’s most accurate mortgage portfolio analytical platform delivering portfolio analysis that predicts with 96 percent accuracy which mortgages in a loan portfolio will experience prepay, delinquency, default, and losses as well as which loans should be targeted by marketing. TitleCheck, provides an underwriter-backed clear-to-close decision in seconds, significantly accelerating the ability of mortgage lenders to laser-focus on loans within their portfolio that can potentially be refinanced while delivering significant cost savings.

Mortgage lenders often have a portfolio of 100,000 mortgage loans or more with varied performance bands, and many high-credit, low Loan-to-Value (LTV) customers are refinancing. The marketing cost to solicit all borrowers in the portfolio with a mortgage refinance offer is too high, the response rate is inadequate, and a significant number of responders who begin the application process fail to get approved due to credit, collateral, or title issues. The result is an unacceptably high-cost-per-new-loan-generated.

This collaboration between Veptas and Flueid combines the utilization of Artificial Intelligence and the industry’s most comprehensive database to identify with near-perfect accuracy which loans in a portfolio are best-suited as targets for marketing by mortgage lenders. The AiCurio database of public and private records contains 22 years of mortgage history with more than 110 million loans and six billion payment records. AiCurio’s proprietary analytics deploy Artificial Intelligence to predict loan performance 96 months into the future. This powerful solution identifies the specific loans with the credit and collateral that can be approved for a refinance. Coupled with TitleCheck, which can render a title clear-to-close decision in seconds for each loan, originators now have the unique ability to more efficiently focus exclusively on the loans in their portfolio that actually can be approved for refinance.

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