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Demo Day Recap: How Capacity Reduces The Time it Takes to Process a Loan

by | Jan 13, 2021

During the first HousingWire Mortgage Tech Virtual Demo Day of the year, our CEO and Cofounder, David Karandish, gave a 10-minute demo that revealed Capacity’s features that can speed up the time it takes a loan to process. The key factor in speeding up the process lies in the fact that Capacity can automate questions and tasks from both sides, meaning borrowers and loan officers can experience a frictionless loan experience.  

Internal benefits. 

Mortgage lenders can add Capacity to its internal messaging platform so loan officers can instantly access information from an internal knowledge base, LOS, CRM, and even proprietary systems (via our developer platform). 

Here’s how: Capacity integrates with lenders’ key systems and interfaces with messaging platforms (like Slack, Teams, or email) so loan officers can quickly find answers by asking Capacity questions about borrower opportunities, loan statuses, guidelines, etc. Capacity will pull this information and provide the loan officer with an instant and actionable response, which reduces the time that loan officers spend manually logging into systems and searching for information. 

Once Capacity provides this information, the loan officer can simply tell Capacity to pass these details to a member of their team without hitting copy, paste, or opening their email. For companies that don’t use messaging platforms, Capacity can also live on internal intranet pages and complete the same tasks!

External benefits. 

Lenders can empower borrowers with Capacity as well by adding the Capacity bot to their consumer-facing website. As borrowers engage with Capacity and start typing questions, Capacity will direct them to accurate answers. 

Here’s how: Capacity’s knowledge base (that our team helps every customer build during implementation) consists of all of the frequently asked questions that borrowers typically ask. Because Capacity has worked with a large number of mortgage lenders, we share a content pack of question-and-answer pairs that other customers have found useful. This speeds up the implementation process and enables you to start automating your borrowers’ questions as quickly as possible. 

Since Capacity handles all of the frequently asked questions via chat on the website, loan officers can reduce the time they spend answering repetitive questions and focus on processing the loan. Borrowers are also well informed without calling or emailing in. 

New features. 

During the demo, David also mentioned a few new features.

Our new Intelligent Document Processing (IDP) technology can take documents like escrow statements and automate the stare and compare process. IDP makes it easy to start a workflow that consists of extracting key information from your files and adding it to your knowledge base for instant access.

The Capacity Helpdesk now has its own kanban board to keep track of tasks that can’t be automated via workflows. Customers who use Jira or Freshdesk for these Kanban boards can eliminate the use of multiple tools and consolidate or easily integrate Capacity with other helpdesk tools.