00:00I'm Allison LaForge with HousingWire, and this is Housing Stack On Demand, powered by HousingWire and The Basis Point.
00:06We're bringing technology showcased at the gathering by HousingWire directly to you,
00:10giving lenders the insights they need to make smarter, more strategic tech stack decisions, featuring the latest innovations.
00:16This demo features touchless automation by Tavon.
00:19Tavon is a leading platform-powered AI transformation specialist,
00:23focused on helping financial institutions unlock the power of AI and accelerate digital transformation.
00:31Through generative AI, automation, and advanced data solutions,
00:35Tavon helps modernize operations across the mortgage lifecycle.
00:39Its touchless platform streamlines workflows with AI-powered underwriting, automated condition clearing,
00:45and the Maya AI Assistant, helping lenders reduce manual effort, accelerate decisions,
00:51and deliver faster borrower experiences.
00:54Kayla, take us through what Tavon has been up to with touchless automation.
00:59So Tavon has been working on utilizing AI to automate and streamline both mortgage workflows,
01:06while also cutting costs and reducing repurchase risk.
01:11And we're doing this using multi-OCR technology, agentic AI, generative AI, large language models.
01:20And you get to see them all through our key features with touchless documents, decisioning, credit, income, assets, and collateral.
01:29So we're really excited to be able to share this with you.
01:32So what I'm showing you here is our touchless automation platform.
01:37This platform is designed to give underwriters a workstation that is on top of the LOS.
01:45So they're not having to go into their respective LOS to do their functions as touchless will write back to
01:52their LOS as the system of record.
01:55Here on the platform, we get to see a loan file with all of the available analysis modules.
02:03So we can see decision and credit, collateral, income, and assets.
02:09And we'll take a deeper dive into those momentarily.
02:13You may notice we have some hyperlinks right beside the subject property address.
02:18And what this does is provide convenient ways to access the information for the subject property on Google Maps.
02:27And also, in addition to having a link to take the user to Google Maps on a separate web browser
02:35displaying the subject property information,
02:38we also provide the convenience of having this for Zillow as well.
02:42So the user can go straight to Zillow and see the property information.
02:49Now, at the top right, you may notice we have a link to the ERLA so the underwriter doesn't have
02:57to go back to their LOS to see all of the information about the loan file application.
03:02It's conveniently displayed right here on the screen for them with the ability to scroll through it,
03:09even use the link at the bottom right to navigate back to the top.
03:13Or, if the team member knows exactly what they're looking for,
03:17they can use the navigational links on the left-hand side to quickly maneuver throughout the ERLA.
03:23This just provides convenience.
03:25So as the underwriter is reviewing the analysis Touchless has provided, it's there for their convenience.
03:33Next, I'm going to show you a link to the document repository.
03:37So this document manager is a mirror image of the LOS document manager or document repository.
03:45You'll see the underwriter can access all of the documents right here at their leisure by simply clicking and open
03:55up the document.
03:56It will display information about when the document was received.
03:59So they always have timely information.
04:02But to make it even easier for the user, we display the corresponding documents within the respective analysis modules.
04:12So let's take a look at the analysis modules together now.
04:16And we can do that by clicking on any of the analysis modules here.
04:21And you'll see that it will open up a summary of that information below for the convenience of the user.
04:28Or the user can also click on the respective analysis module on the chart at the top right.
04:36This will take the user directly into the respective analysis where they can see all of the corresponding conditions.
04:43So one of the great benefits is as the underwriter, I've never seen this file.
04:48I haven't had to review all the loan documents yet to generate conditions, type my notes, and then manually type
04:56out my conditions.
04:57The automation's done that for me.
05:00And whatever module I'm in, I can simply click on the corresponding document at the right.
05:05So, for example, the credit report will open up for me.
05:10So as I'm reviewing the conditions that Touchless has displayed, I can confirm them on that document right now without
05:17having to leave and go to the document manager.
05:21Additionally, we provide some other information for the users.
05:25So, for example, in credit, you'll see access to the liabilities where the underwriter can come in and make edits
05:33if they need to.
05:34Maybe they want to show some things being paid off to try to get the DTI correct.
05:38So I could just play with that to see my DTI changes.
05:43You'll see my notes.
05:44And it's always displayed here for my convenience.
05:48And when I'm ready, I can navigate to any of the other analysis modules by simply using the arrow right
05:55here and selecting that analysis module.
05:58Or I can always go back to loan details and maneuver from there.
06:04So on this particular analysis module, this is the assets.
06:09And what you're seeing displayed are a list of all the financial institutions that were listed on the ERLA.
06:16As I scroll down, I'll notice other types of assets down below.
06:22So we see our other assets displayed, but we also see that there is a hyperlink to the left of
06:28this Bank of America account.
06:30And we also see some corresponding information in a PDF.
06:34That's because we received this document already, but we haven't received the others just yet.
06:42So since we haven't received those, we don't see the corresponding link, but we can certainly click on this link
06:48to see that document now.
06:51And we can click on the hyperlink that the account number displays to open up and see more information.
07:00So this is now showing all of the transactions, including deposits, withdrawals, and even information about the large deposits.
07:09So as the user, I could say, well, actually, I received a $10,000 gift letter.
07:16So I'm going to change this to make it $10,000, and I can update my notes, anything I want
07:26to say.
07:27I could just say gift, and then do the same thing for any other transactions here.
07:33Maybe I've got $15,000 gift letter to support this, and then this whole large deposit is confirmed.
07:43What this does for your underwriter now is they'll still see the ending balance of that bank statement displayed, but
07:50the verified balance is going to update.
07:53So once I hit save, now I can see how much from this particular financial institution statement is actually verified.
08:02So just ways to keep our underwriters working smarter, faster, with less risk.
08:09I'm going to navigate back to the loan details for a moment.
08:14And you can see that we have percentages of completion and ways we can navigate to different analysis modules.
08:22So we'll look at one more, and then I want to take a brief moment to talk to you about
08:26our mortgage agent, Maya.
08:29So before we go in to see Maya, we're looking at the collateral analysis module, where we can see our
08:36appraisal displayed here for convenience for our underwriter.
08:39And then they can review the conditions displayed.
08:42So the AI has generated these conditions for our underwriter.
08:47And this first one says it's an image analysis and that there is an anomaly for structural damage with exposed
08:55wood and peeling layers.
08:57I don't even have to scroll through the appraisal to find that as the underwriter.
09:01It's displayed right here for me for my convenience.
09:05And when I'm ready to clear or waive a condition, I can do that right here.
09:10And once I click save, it's going to push all of my hard work back to the LOS, preventing duplication
09:17of work.
09:17I'll show you one more quick image analysis.
09:21This one says that there is some potential discoloration or water damage on the lower cabinets in the kitchen.
09:32So as I scroll down, we can see the lower cabinets in the kitchen.
09:36We can make that larger and we can see where that potential water damage is.
09:43So now let's take a brief moment and go look at Maya.
09:49Maya, our mortgage agent, is going to provide me the ability to ask questions about the loan file and even
09:55do tasks such as write my transmittal summary notes when I'm done reviewing the file.
10:01So let's ask Maya a quick question.
10:03Okay, I'm going to select Maya and ask her some questions about our loan file.
10:08I have the ability to talk to text or I can simply type a question or I can select from
10:16suggested questions already here available.
10:20So let's say I don't know anything about this file yet.
10:23It didn't have a cover letter.
10:24So I can ask Maya to summarize the loan application details and current status.
10:31So she's going to provide me an accurate, timely, essentially a cover letter to let me know everything I need
10:38to know that's pertinent on this file.
10:41So she takes a brief moment to think about it and then she's going to summarize these based on all
10:46the characteristics going through credit, borrower profile, income, assets, and let us know all the details.
10:54So we can see she started with loan purpose and product and provided that information.
11:00Then she went into property and collateral and shared details specific to that.
11:05Next, she's provided me the borrower profile, including credit and income, the ratios of the file.
11:15She's detailed the assets and she'll even let us know for short funds to close.
11:20She goes over the down payment for us, liabilities and obligations, payment estimates, underwriting and AUS findings, and the current
11:31loan status and all of the open conditions.
11:33So we're fully aware of what's going on on the file.
11:37And then let's say you're done underwriting the file and it's time to type up your 1008 transmittal summary notes
11:44or your FHA LT notes.
11:47You can actually ask Maya to write the transmittal summary notes for you, thus saving valuable time, because again, she's
11:55able to retrieve live time, real data from the file.
11:59So any changes that you may have made are already reflected.
12:03And now you're not having to type out those notes.
12:06Maya's going in and summarizing them and preparing them on the screen for you.
12:11You could also ask all kinds of questions like, what if any red flags are on the file?
12:18So here we can see our concise transmittal summary displayed for us with all of the information that we need
12:26to include in our transmittal summary notes.
12:28Thank you for giving me your time to talk about Touchless by Tevant and our mortgage agent, Maya.
12:36Kayla, thank you so much for walking us through this demo and showing us what Tevant has been up to
12:41with touchless automation for our audience.
12:44For more information about Tevant's touchless automation and Maya, click the link below.
Comments