Blend Showcases DocAI in Mortgage for HousingWire

Key Takeaways

• Move Faster to Close Loans: Blend’s DocAI automates document classification and data extraction, which can eliminate days of manual review and back-and-forth communication. This streamlined process has a material impact on document quality and helps home lenders and borrowers drive toward the fastest possible clear-to-close.

• Boost Customer Satisfaction: By providing real-time, specific guidance to borrowers on what is needed, DocAI helps to close the final mile of the loan process. This automation gives customers more confidence in their lender’s ability to deliver speed and has contributed to even higher NPS scores.

• Reduce Operational Costs: The use of AI to automate manual reviews of documents like appraisals and closing packages can reduce the time these tasks take from hours to minutes. This efficiency allows lenders to redeploy resources more effectively and protect their bottom line, especially in a lean market.