Blue Sage Solutions COO Says Lenders Are Turning To Technology For Better Results


The chief operating officer at Blue Sage Solutions says they have more prospects in their pipeline than ever before as lenders turn to technology.

Leaders at the New Jersey-based company recently announced the launch of the Blue Sage Digital Servicing Platform. The initial version of the system includes all the necessary functions to perform interim servicing, with full-scale servicing functionality to follow.

Lenders can use the platform to automate closed loan transfers, process individual and batch payments, onboard loans, and collect payments, according to a press release.

“We are thrilled to introduce a truly innovative, digital, cloud-built servicing platform that we expect will transform mortgage servicing operations as we know it,” Carmine Cacciavillani, founder and chairman of Blue Sage Solutions, said in a statement.

All Blue Sage technologies are 100% browser-based, equipped with mobile applications, and delivered through a secure, fully managed cloud service.

COO David Aach, who has more than 25 years of experience in mortgage and finance, sat down with The Mortgage Note to talk about the release and overall industry trends.

Aach said in this current environment, lenders who have large IT staffs are at a disadvantage because those fixed costs are a big drag on earnings when volume is down.

“Our technology basically does not require a large IT staff of people to enhance it and extend it,” Aach said. “We provide a complete solution that you can configure using tables and automation and rules, and have a very thin staff of people to manage the loan origination system and because we provide one-stop shopping, we provide the point of sale, we provide the LOS, we provide the loan officer portal, we provide the doc management system, there are far fewer integrations, so you don’t have to be a system integrator.”

Aach said they work with a variety of clients, from credit unions and independent mortgage banks to top 20 lenders.

“It’s primarily people who kind of have seen the light and said, ‘I don’t need to be in the mortgage technology business, I want to be in the mortgage business,’” Aach said.

When asked what he sees coming down the pipeline when it comes to advances in artificial intelligence, Aach said they are working on a few things right now. One of them is an automation tool to perform income analysis.

Aach said the tool accepts documents, paystubs, W2s, and tax returns, doing a lot of the work that an underwriter traditionally has to perform.

“We’re basically optimizing the underwriter’s time, giving them more productivity. So maybe the old-fashioned way, an underwriter can only do three loans a day. Using these kinds of tools, they can maybe do six or ten,” Aach said. “That’s a big benefit to lenders.”

Aach said underwriters are excited about these tools because they lead to greater accuracy, reducing the amount of time they have to spend performing “stare and compare” tasks.

“If you can pre-underwrite a loan using AI technology to do income analysis, you allow an underwriter to basically take a set of results that have already been kind of cleaned, and you have looked at all the documents, and you’ve looked at all the data, and you’ve put it all together in a nice, neat package, and say, ‘Okay, do you want to approve this?’ that saves the underwriter a lot of grunt work,” Aach said.

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