TOUCHLESS
TOUCHLESS is Tavant's AI-powered mortgage automation platform that analyzes credit, collateral, income, assets, documents, and loan decisions. Featuring Maya, the Mortgage Agent, TOUCHLESS® helps underwriters navigate loan files, surface critical insights, accelerate loan closings, improve quality, and modernize mortgage workflows without disrupting existing processes.
Tavant
Tavant is a leading platform-powered AI Transformation specialist focused on helping enterprises unlock the power of AI and accelerate transformation. Combining deep business expertise, relentless client focus, extraordinary technical DNA, and proprietary AI platforms, Tavant delivers intelligent automation and AI-driven business transformation to global Fortune 500 enterprises. All while operating at the forefront of GenAI-enabled IT in application development, legacy system modernization, and IT management.
#MortgageTech #AIinLending #LoanOrigination #Tavant
TOUCHLESS is Tavant's AI-powered mortgage automation platform that analyzes credit, collateral, income, assets, documents, and loan decisions. Featuring Maya, the Mortgage Agent, TOUCHLESS® helps underwriters navigate loan files, surface critical insights, accelerate loan closings, improve quality, and modernize mortgage workflows without disrupting existing processes.
Tavant
Tavant is a leading platform-powered AI Transformation specialist focused on helping enterprises unlock the power of AI and accelerate transformation. Combining deep business expertise, relentless client focus, extraordinary technical DNA, and proprietary AI platforms, Tavant delivers intelligent automation and AI-driven business transformation to global Fortune 500 enterprises. All while operating at the forefront of GenAI-enabled IT in application development, legacy system modernization, and IT management.
#MortgageTech #AIinLending #LoanOrigination #Tavant
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TechTranscript
00:05Welcome to HousingWire's Demo Day on Demand. I'm Alison LaForgia, and HousingWire Demo Days
00:11spotlights some of the most innovative technology companies in housing, giving our audience a front
00:17row seat to real product demos from teams building the tools that move our industry forward.
00:22In this session, we're featuring Tavant, a leading platform-powered AI transformation
00:27specialist focused on helping enterprises unlock the power of AI and accelerate transformation.
00:34Combining deep business expertise, relentless client focus, extraordinary technical DNA,
00:41and proprietary AI platforms, Tavant delivers intelligent automation and AI-driven business
00:47transformation to global Fortune 500 enterprises, all operating at the forefront of Gen AI-enabled
00:55IT in application development, legacy system modernization, and IT management. In this
01:02Tavant demo, Kayla will be taking us through Touchless by Tavant. Kayla, the floor is yours.
01:07Thanks so much, Alison. So today I get the pleasure of sharing a little bit behind the scenes of
01:14Touchless and what it can do to help support the expediting of loan origination through loan
01:22closing process. So what I'm showing you today is the Touchless platform that our underwriters log into
01:30to review loan files. Essentially, when they log into Touchless, they're going to see all the
01:36information you see here, including the various analysis modules like decision, credit, collateral,
01:44income, and assets that have been ran. So what Touchless has done, it has taken the full ERLA and all
01:52of the loan
01:52documents and performed analysis and gave conditions back to the underwriters based upon that particular
02:02analysis module. So we're going to jump in and take a look at a couple of these modules and see
02:07what the AI does to speed up this
02:10process for the underwriters and make their jobs easier.
02:15So let's first, before we get into an individual analysis module,
02:19let's take a quick peek at where the underwriters can see the full ERLA as well as all the loan
02:25documents on the file.
02:28So when the underwriter clicks the ERLA button, this is going to take them to a comprehensive view of the
02:34entire ERLA.
02:35They have the ability to scroll through or navigate back to the top at any time they like.
02:42They also have the ability to jump straight to the section of the ERLA that they would like to see,
02:49utilizing the quick navigational links on the left-hand side of the screen.
02:54And the really great thing is that the ERLA opens up on a separate web browser,
02:58so the underwriter could move this web browser to another monitor while they're reviewing the conditions
03:04that the touchless automation has automated for them.
03:09Next, if they wanted to see documents outside of a respective analysis module,
03:14so if they want to see a credit report, they could do that directly in the credit report module,
03:18that they can come to the document section and look for any document that they would like to see.
03:24So, for example, if I just wanted to see a bank statement,
03:27I could start typing that in or scrolling through to find the document I want to see.
03:33Again, this opens up on a separate web browser, just like the ERLA,
03:36to make it convenient for the underwriters to be able to work quickly.
03:41So now that the underwriters have been able to see the full ERLA,
03:45where they can view all their documents,
03:48they can navigate straight into any analysis module
03:52and see what the AI conditioned.
03:56So the AI is reviewing not only the ERLA,
03:59but all loan documents that come into the file,
04:02and it provides corresponding analysis based on that particular module.
04:08So, for example, in credit, we'll expect to see credit-related conditions.
04:12We can also see if touchless had auto-cleared any of those related conditions.
04:19So it's just another benefit.
04:21To the right-hand side at the top,
04:24they can see the related loan documents for that particular analysis module.
04:29So here we see the credit report.
04:33I could also navigate to the liabilities
04:35and quickly see the liabilities as they would have appeared on the ERLA in the credit report.
04:43So I can see down below we have child support after our normal liabilities at the top,
04:49like our installments revolving mortgage loans, for example.
04:53And then your underwriters have full ability to come in and make edits should they need to reflect something as
05:00paid off.
05:01I'm just going to put test here as a note.
05:03So I wanted to show you that that allows the underwriter to be able to have comments based on any
05:09changes they made as well.
05:12Now, before I jump into the next analysis module, I wanted to take a minute to let those of you
05:17who don't know that we have a point of sale at Devont also know that we do that also is
05:23integrated fully with touchless.
05:25So what that means is all of the analysis you're seeing here available for the underwriter to review and make
05:31their loan decision is actually available in the point of sale as well.
05:35So if I were a borrower and I were completing my loan application and I just gave authorization to pull
05:41my credit,
05:42I would already know any credit related conditions that came back.
05:46So if I needed to provide additional documentation, maybe, for example, my credit report, we saw that we have child
05:55support,
05:55but I didn't have this on my ERLA, that might prompt me that I need my divorce decree to submit
06:00that.
06:00So it's a great way to give upfront communication to your customers so they're not having to wait for the
06:06file to go underwriting.
06:08So let's go ahead and take a look now at another module.
06:12Our collateral analysis module goes through all aspects of the appraisal, for example, so we can see that appraisal on
06:21the screen,
06:21but we can also see the conditions that came from that appraisal.
06:26So an underwriter hasn't taken a peek at the appraisal yet.
06:29They're coming into touchless for the first time to see it.
06:32And when they open up, they can see the conditions that came about.
06:35So, for example, there was an image analysis anomaly detected and it said in the kitchen,
06:42there's some structural damage and corrosion at the base of the sink faucet.
06:46This could be some water intrusion.
06:49Well, we can open up that image and definitely see that's there.
06:53So how is this helping your underwriter?
06:56They're not having to go read every detail of the appraisal report.
07:01Touchless is calling out the anomalies for them.
07:04It's going through the comments and looking for examples of appraiser bias or any negative sentiment.
07:12Of course, anomalies within the appraisal or images as well.
07:16So you can quickly see how we maneuver.
07:20I'm going to take you to one more analysis module before we take a look at our mortgage agent line.
07:26So let's go ahead and look at asset analysis.
07:30There's a really cool tool within asset analysis that I would love to demonstrate for you.
07:37So first, you're seeing all of the assets that were presented on the IRLA.
07:41And then if you see any with a purple hyperlink, that means we've actually received the bank statement for that
07:49corresponding account.
07:51As we continue to scroll down, we can see our other assets and then any gifts or grants that transpired
07:57on this loan.
07:59So now if I wanted to take a look at that asset statement that was received, I can open it
08:04up and view it here on my screen.
08:05Or I can simply click on the hyperlink, that is the loan number, and it's going to open up and
08:12show me all of the analysis that's happened on that bank statement.
08:18So here we can see our dates, our descriptions, our deposits and withdrawals.
08:23And we can even see that touchless has called out large deposits for us.
08:28Not only did it call them out, it gives me the ability to determine if any or a portion of
08:35this or all of it might be eligible,
08:38meaning we have supporting documentation to support that large deposit.
08:42So for this first one, I'm going to say that we do have a gift letter for $10,000.
08:48So I need that partial.
08:51Next, if I want to say, I don't have anything to support this large deposit yet, we need to wait.
08:56But for this final one, for $5,000.08, we have the supporting documentation to mark it fully eligible.
09:03What that did is give me the ability to do that as the underwriter and have touchless track it.
09:09So up here, this ending balance is the actual ending balance from that bank statement that we just reviewed.
09:15But this verify balance will adjust when I click save all after making any changes because it's tracking what has
09:24now been verified.
09:25So I don't have to manually have a calculator or take notes and maintain these while I underwrite the file.
09:32The system's doing all of that for me.
09:33So I always know what's truly verified I can use as assets.
09:39Now I'm going to hop back to our loan details and introduce you to Maya, our mortgage agent.
09:45So Maya is available in our point of sale all the way through our servicing products.
09:49But the really cool thing about Maya within touchless is she is here to help answer questions for the underwriters.
09:57She can even write cover letters if there wasn't a cover letter from the processor.
10:01I just come in and suggested questions and say, hey, summarize the loan application details and current status.
10:08But I could ask her any questions that I want.
10:11I could ask her what were the comments or notes made the last time I reviewed this file?
10:16Or are there any red flags, any deficiencies on the credit report, for example?
10:24And then finally, when I'm done underwriting the file, I'd like to ask Maya to write the transmittal summary notes
10:30for me.
10:31So just like what you're seeing here in this concise summary of the loan file, you'll get fully detailed notes
10:38for the transmittal summary.
10:39So the underwriter doesn't have to spend that time manually typing everything out.
10:43So let's take a quick peek.
10:46So Maya's provided notes summarizing all of the loan purpose and product information, along with all the property and collateral.
10:54She's looking at the borrower's profile and income.
10:58And providing all the details needed for all the ratios.
11:03Then she looks at assets and reserves and lets us know, are we short funds in any way?
11:08What are the things going on with assets and are there any outstanding conditions still on the file?
11:15So it's really helpful.
11:16And then she looks at liabilities and obligations.
11:20And then finally, she's giving you an overall loan status.
11:25So just a great way to get to know the file before you come in.
11:30Instead of having to review every single document, every detail of the ERLA, Maya can summarize it and make it
11:37easier for the underwriter to work more efficiently.
11:41So those are the highlights I had that I wanted to show you today.
11:45Kayla, thank you so much for taking us through Touchless by Tavant.
11:48Let's jump into a few questions.
11:52First, how can Touchless help lenders improve scalability during fluctuating volume cycles?
11:59That's a fantastic question.
12:02One of the things I do not miss from being on the mortgage origination side are those cycles and where
12:08you would see people get hired rapidly.
12:11And then, unfortunately, people getting laid off when volume declined.
12:14Touchless can help prevent that because with Touchless providing the ability for underwriters to reduce the time to underwrite a
12:25file by more than 75%, underwriters can now accommodate more loan files.
12:30So as volume grows, as production increases, the underwriter's capacity is now freed up to take on more.
12:38And, Kayla, considering risk is critical for everyone right now, how can AI help reduce turn times without increasing risk?
12:49Another fantastic question.
12:51So one of the best things about AI is that it's not making the decision for the underwriter when you
12:58think about it like that.
12:59It is reviewing the documents, doing the stare and compare test, things that are considered more administrative and not of
13:07the underwriter's highest and best use.
13:09So it's looking at all compliance and regulations.
13:14So, for example, if this is a conventional loan, all Fannie and Freddie rules, policies, procedures have been observed.
13:22Conditions are fired based upon that loan program and that time so that we ensure regulations are met.
13:28So this helps to reduce risk while speeding up the time for the underwriter.
13:33And how can technology better support underwriters rather than replacing them?
13:40That's a topic that's very passionate to my heart.
13:43Technology can really help the underwriters in so many ways.
13:47We talked about reducing the stare and compare because AI can do that.
13:51So the underwriter doesn't have to spend the time looking for that corroded faucet that we saw in the example
13:57before.
13:58It can find those things and call them out.
14:01The underwriter now, let's say we've reduced the time it takes them to review a file by over 75 percent
14:08because the stare and compare tasks, the things like having Maya write the transmittal summary notes, those things save valuable
14:15time.
14:15So now underwriters will have more capacity to take on additional loans, maybe even additional loan programs, but they had
14:23never had the opportunity to get their designations.
14:25Maybe they didn't have time to do the FHA test cases.
14:29And now they do so they can get their D.E.
14:32And now they can do a lot more loans.
14:34Or maybe there's some complicated bond programs.
14:37They just didn't have time to go through the bond authorities trainings that are required.
14:41Now they have that time.
14:43So now they're not only working smarter and faster, but they can do more.
14:48So they've made themselves more valuable to the organization and just more widespread for their knowledge base.
14:56Kayla, thank you so much for joining me today.
14:59To our audience, for more information about Touchless by Tavant, you can check out the link below.
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