Wemlo developed the first solution for mortgage brokers that combines third-party loan processing with an all-in-one digital platform.
FREMONT, CA: Wemlo, an innovative fintech company that provides third-party mortgage loan processing services, has launched ATHENA, a new technology logic, and intelligence behind the wemlo platform.
The 22-month-old, Florida-based startup, wemlo is reshaping mortgage loan processing in the mortgage broker channel. Wemlo developed the first solution for mortgage brokers that combines third-party loan processing with an all-in-one digital platform. Its product offering is the only enterprise-grade solution of its kind in the mortgage brokerage space.
Athena is a virtual assistant AI technology developed to empower and improve loan processing by identifying discrepancies within the mortgage loan application, including document verification based on loan type to mitigate conditions.
"By helping to identify potential issues within the 1003 mortgage application before it is sent to lender underwriting, Athena increases efficiency for the mortgage loan originator and processor, creating a systemic approach to make sure the 1003 is full and complete and a good file is created," said David Rogove, a wemlo co-founder. "And the cleaner the file, the less chance of lender delays."
This intelligence continues with the ability to request title and automatically generate fees. "As Athena evolves with additional automated activities, she will help make mortgage loan originators who use the wemlo platform more effective, and increase speed for clear to close, which in turn, may assist them in growing their business," added wemlo co-founder Steven Gelley.
