Silverwork Solutions

Streamline Your Closing Disclosure Process with the ICD Bot Since 2017, Silverwork Solutions has been helping lenders automate and optimize their processes. Our ICD Bot is an intelligent, Agentic AI solution that automates Initial Closing Disclosures, improving efficiency and accuracy. Key Benefits of the ICD Bot: ?? Full Automation: Generates and delivers closing disclosures, freeing your team to focus on high-value tasks. ?? Advanced Validation: AI-powered OCR ensures accuracy and reduces defects. ?? Seamless Integration: Speeds up review with smooth vendor data integration. ?? 24/7 Operation: Runs continuously, improving with every use. ?? ICD Scorecard: Tracks performance and escalates issues for correction, ensuring transparency. The ICD Bot scales your operations without increasing staff, allowing your team to focus on what matters most. Let’s connect to discuss how it can help streamline your process! #MortgageAutomation #AI #Lending #Fintech #Automation @stratmorgroup

The mortgage industry is changing, and AI is leading the way. With automation, loan officers can process faster, reduce costs, and offer better borrower experiences.

?? Why 70% of Loan Origination Costs Are Labor—And How AI Fixes It Labor accounts for a staggering 70% of the cost to originate a mortgage loan. It’s time to change that in under 60 seconds. The LOA Bot slashes costs by automating processes like: ?? Credit checks and PPE review ?? Income calculations with Rep and Warrant Relief ?? Dual AUS submissions & Instant Pre-Approval letters ?? Fraud detection Efficiency meets savings with Speed. Ready to see how? #LendingInnovation #AIAutomation #AgenticAI #MortgageAutomation ?? https://lnkd.in/gEaAcWew

?? Loan Officers: Focus on What Matters Most! Did you know loan officers spend countless hours manually processing borrower documentation? AI is freeing them up to focus on what really matters—building relationships, guiding borrowers, and closing deals. With tools like our LOA Bot, tedious tasks like data entry, validation, and analysis are handled in seconds. Learn how AI is transforming lending workflows. #MortgageTech #AIAutomation #AgenticAI ?? Check out this page to see more:

?? Unlocking Efficiency: Scale Your Mortgage Operations Without Increasing Headcount! In today's landscape, the most successful lenders are achieving a trifecta: increasing efficiency, reducing origination costs, and scaling operations without hiring additional staff. This isn't just possible; it's being done every day, thanks to the strategic application of AI. Since the early '90s, applied AI has been quietly transforming the mortgage industry. From automated underwriting systems introduced by GSEs to Automated Valuation Models (AVMs) in the early 2000s, and Zillow's Zestimates in 2008 — these innovations have set the stage for today's advancements. As a former advisory board member at Zillow, I've witnessed firsthand how these technologies have evolved to support lenders. The recent buzz around Gen AI is exciting, yet in mortgage lending, it's Applied AI that truly empowers lenders to achieve this efficiency trifecta. At Silverwork Solutions, we don't just automate; we enhance and continually improve through AI, LLM, and Machine Learning. Our tools help streamline workflows, automate repetitive tasks, and provide clear ROI and cost-saving metrics. Looking to cut costs, minimize operational expenses, and future-proof your business? Let's chat! I'm here to share insights on how applied AI can transform your processes and help your firm thrive in a competitive market. ?? Contact me today to discover how you can leverage these technologies to not just keep up but lead in efficiency and innovation. https://lnkd.in/gCsvTYAS

"Lenders need to buckle down on quality control." says ACES EVP Nick Volpe. With defects rising in all key categories—income, assets, credit, and appraisals—lenders face mounting risks to profitability. 14.56% Spike in Loan Defects! Are you prepared? Discover how AI-powered automation can turn the tide. Loan Documentation Accuracy is needed now! While documentation defects spiked overall, Silverwork Solutions ensures lenders maintain accuracy through robust automation that cross-validates critical loan data against source documents in real time. https://lnkd.in/gjEPNkrj #MortgageAutomation #AI #DigitalLending #RoleBasedBots

The latest ACES Quality Management report sounds the alarm for lenders: critical loan defects are rising at a troubling pace, with income and employment defects surging by 58% in Q2 2024. This trend, compounded by a 14.56% increase in overall critical defects, highlights a costly challenge that lenders cannot afford to ignore. With GSEs like Freddie Mac penalizing lenders through increased repurchase demands—up 29% in Q2 to $430 million—it's clear that reactive measures are no longer sufficient. The solution lies in proactive automation. By addressing these defects early and often in the origination process, lenders can mitigate the risks of buybacks, loan cures, and operational inefficiencies. Silverwork Solutions’ Persona-Based Bots offer a comprehensive approach to tackle these challenges head-on. Income & Employment Defects Up 58% in Q2 2024. Don't let loan cures and buybacks impact your profitability. Find out how our Persona-Based Bots can help. https://lnkd.in/gEaAcWew #AI #MortgageTech

Did you see this story today from CNBC story about the rising average age of U.S. homebuyers in now 56 years old? ?? Shifting Demographics in Homeownership ?? The average age of homebuyers in the U.S. has climbed to 56, up from 49 just a year ago, as reported by NAR. This shift highlights a troubling trend: younger Americans are increasingly being priced out of the housing market due to soaring ownership costs. Wow, it's clear that the dream of homeownership is becoming less attainable for younger generations. With the average age previously sitting in the low-to-mid 40s in the early 2010s, today's data underscores the urgent need for innovative solutions to lower costs to originate for lenders. At Silverwork Solutions, we recognize the challenges facing both buyers and lenders in this evolving landscape. Our AI-powered digital workforce solutions are designed to enhance efficiency, streamline processes, dramatically reduce labor cost empowering lenders to low closing cost to better serve their clients. #AllofUs need to work together opening more pathways to homeownership that are accessible for everyone, regardless of age.?Michelle Young ?? #HousingMarket #Homeownership #RealEstate #Innovation #Fintech #SilverworkSolutions #allofus

Big News from Fannie Mae today as it announced changes to the eligibility requirements for Value Acceptance (previously known as appraisal waivers) and Value Acceptance + Property Data (also known as inspection-based appraisal waivers), two key components of the company’s valuation modernization options. The changes are part of Fannie Mae’s ongoing efforts to offer a balance of traditional appraisals and appraisal alternatives to confirm a property’s value in order to meet the needs of the market.? Beginning in Q1 2025, for purchase loans for primary residences and second homes, the eligible loan-to-value (LTV) ratios for Value Acceptance will increase from 80% to 90% and Value Acceptance + Property Data will increase from 80% to the program limits. Both options are designed to match the risk of the collateral and the loan transaction. Our Silverwork's LOA Bot is going to love this as it runs credit, pricing, Income and Dual AUS in less than 60 seconds.

?? Revolutionize Loan Verifications with Our Virtual Verification Assistant! In the fast-paced world of mortgages, every second counts. That’s why at Silverwork Solutions, we’ve designed the Virtual Verification Assistant (VVA) to take the stress out of loan verifications, helping your team work smarter, not harder. Here’s how VVA makes a difference: ?? Smart Vendor Selection? Imagine never worrying about missed verifications again! The VVA handpicks the best vendor for each borrower by reading your application, ordering the right verification based on the job type, saving you time, money, and reducing over ordering verifications while streamline underwriting time. ?? Simple, Automated Opt-Ins? Want happier borrowers? Our automated opt-in system simplifies the experience for your clients, making the process seamless for everyone—while slashing your verification costs. ?? No More Manual Work? Let automation take over the heavy lifting. VVA speeds up loan approvals and gives your team more time to focus on what really matters — delivering exceptional service. Let’s Meet at the MBA Annual Conference!? We’re excited to chat about how the Virtual Verification Assistant can change the way you do business. Join us in Denver and discover how AI-powered automation can keep you ahead of the game. Let’s make mortgage magic happen together! ?? Can’t wait to connect! #MortgageInnovation #Automation #AI #LoanVerification #MBAnnual2024