| CollateralLogic™ is
an automated appraisal report evaluator – Files enter
the system via email or upload. Optical character and optical
mark recognition (OCRLogic™ and OMRLogic™) technologies
are used to read the imaged file and extract information. This
information or data is then applied against the customer’s
guidelines in the CollateralLogic™ Guideline Engine. The
application of the report data against the lender’s rules
results in an evaluation identifying risk issues within the
report.
The CollateralLogic™ rules engine is infinitely customizable
for each individual customer. Rule types include range test
rules, rules to check the consistency of the data and analysis
throughout the report, cross-checking key dates, confirming
or identifying key words or phrases and many others. A customer
can have more than one Guideline Engine depending on their requirements
(e.g. wholesale, retail and/or correspondent).
Evaluation results are automatically returned to the lender’s
database or LOS in report or XML format. All results, reports
and extracted data are either erased from CollateralLogic™
servers or can be archived for future access. |
