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Tavant announced the launch of new products to its Touchless Lending platform

By Edlyn Cardoza

October 28, 2022

  • Collateral Analysis
  • Credit Analysis
  • Digital Lending Solutions

Tavant, Silicon Valley, Digital Lending Solutions, Mortgage Automation Partner, Lending-as-a-Service, Credit Analysis, Collateral Analysis, Touchless Lending, Underwriting, USATavant, Silicon Valley’s digital lending solutions provider, announced the launch of two highly anticipated new products to Touchless Lending, their widely used digital lending platform and signature FinTech product brand.

With these additions, Tavant further solidifies its status as the industry’s preferred mortgage automation partner by diversifying its AI-powered Lending-as-a-Service platform to include both Credit Analysis and Collateral Analysis – two separate product offerings newly available as part of Touchless Lending’s suite of products.

Touchless Lending provides straight-through mortgage processing and automated underwriting as part of the end-to-end mortgage manufacturing pipeline. Loan officers, processors, and underwriters utilise Touchless Lending’s machine-oriented, optimised workflows to engage with borrower and property data to make better decisions faster instead of relying on physical documentation and manual data entry. This solution automates the loan production process, allowing lenders to originate mortgages quicker while reducing costs and repurchasing risks. Touchless Lending integrates with existing systems, including client CRM, POS, and LOS.

“With the launch of Credit and Collateral Analysis, which seamlessly complement our currently available products – Document, Income, Multi-Investor, and Decision Analysis – Tavant can achieve their goal of straight-through processing and fully automated underwriting sooner than expected,” said Mohammad Rashid, Head of Fintech Innovation at Tavant. “We pragmatically reduce the cost to process and underwrite by approximately $1000 per loan and achieve a scale of double-digit underwrites per day per underwriter. In addition, the flexibility to deploy any one of these products independently of the others, or deploy in a cohesive package for underwriting, significantly increases the platform’s ease of adoption.”

Credit Analysis, now part of Touchless Lending, is a machine-based approach to underwriting the credit component of a mortgage application, which automates the review of credit reports for all borrowers on the application for a home loan. Touchless Lending Credit Analysis can be performed in seconds, alleviating time for underwriters to focus on other tasks and significantly reducing the overall cost and time required to underwrite and process a loan.

Collateral Analysis, the second new addition to Tavant’s Touchless Lending platform, automates an underwriter’s manual, labour-intensive appraisal review process, allowing them to focus on other pressing issues that require action. Eliminating manual review and data entry while automatically identifying and escalating issues provides more accurate and faster decisioning and closing. Touchless Lending Collateral Analysis benefits every mortgage channel of business and goes far beyond industry standard appraisal review tools.

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