The article discusses how software solutions provider Tavant Technologies Inc. has added an automated asset analysis product to its lending platform. According to the company’s CEO and co-founder, the product, called Automated Asset Valuation (AAV), was specially designed to address the challenges lenders face when verifying and assessing a borrower’s assets.
AAV allows lenders to perform due diligence quickly and accurately, enabling them to process more loans faster and with fewer manual operations. By automating asset verification, the system eliminates the need for lenders to manually gather and review relevant information and documents before making a decision. Instead, the AAV product gathers the necessary information from the borrower and provides a comprehensive assessment to the lender.
The solution also helps to reduce risks associated with asset verification. By automatically verifying a borrower’s assets and liabilities, lenders are able to detect any discrepancies or risks quickly. It also helps them to create more accurate loan terms, giving them a better understanding of a borrower’s ability to repay.
Tavant’s AAV is the latest addition to its growing suite of products and services geared towards improving the lending process. The technology is already in use with several of Tavant’s clients, and the company is continuing to invest in research and development to ensure their products meet the quickly evolving needs of the industry. By providing lenders with automated asset verification, Tavant’s AAV product helps facilitate faster loan processing and better understanding of a borrower’s financial situation.
You can read this full article at: https://www.housingwire.com/articles/tavant-adds-automated-asset-analysis-product-to-its-lending-platform/(subscription required)
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