Home Point Financial Partners with Capsilon; Cuts Purchase Review Time by 33%

ANN ARBOR, Mich. and SAN FRANCISCO, Oct. 8, 2018 /PRNewswire/ -- Home Point Financial Corporation ("Home Point"), a multi-channel national mortgage originator and servicer, announced today an expanded partnership with Capsilon, a leading provider of mortgage automation software. Home Point chose Capsilon to eliminate bottlenecks in the loan process, boost productivity and reduce risks.

The Capsilon IQ platform was integrated with a proprietary tool called Automated File Intake for Home Point's Correspondent channel. Capsilon IQ was also rolled out across their Wholesale channel.

Home Point reduced Delegated Correspondent purchase review time by 33% through integration with Capsilon IQ, improving operational efficiency and delivering a better experience for its clients.

For most Correspondent lenders, the process to onboard loans for purchase review requires significant manual "stare and compare" and companies invest in significant resources to ensure consistency across key points of data. Typically, more than 50% of operational staff time is spent reviewing documents side-by-side, using a checklist to make sure the documents are identical and data is accurate.

Rather than adding more people to attempt to solve the problem, Home Point expanded its business, choosing to invest in building a software-powered solution leveraging Capsilon IQ to automate manual work. This solution reduced the 'stare and compare' from the purchase review process and significantly improved associate productivity, decreasing file intake time.

"Capsilon has been an innovative partner throughout this process. Their understanding of the mortgage business helped us build a customized solution that boosts productivity across channels," said Maria Fregosi, Chief Capital Markets Officer at Home Point Financial. "We look forward to continuing our relationship with Capsilon to help provide a better experience for our lender partners."

"Home Point Financial is changing how mortgages are delivered," said Jim Obsitnik, Capsilon's Chief Operating Officer. "We're thrilled to partner with them to help deploy a new way of operating that harnesses the power of data to improve the mortgage process."

About Home Point Financial Corporation
Home Point Financial is a national multi-channel mortgage originator and servicer. With the goal of providing a superior customer experience, Home Point has an innovative approach to lending, quality and consistency for customers and partners. Home Point's operating philosophy is defined by the simple but very impactful statement ? "We Care".

Located in Ann Arbor, MI, Home Point Financial is a subsidiary of Home Point Capital LP, a financial services holding company founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital LLC. For further information about Home Point Financial, please visit www.homepointfinancial.com.

About Capsilon
Capsilon builds products that transform the way mortgage companies work, making mortgages easier and less expensive for everyone. Capsilon uses data and AI to automate manual tasks and enable better, faster decision-making, delivering an average customer ROI of 400%. More than 160 of the mortgage industry's most innovative companies use Capsilon's enterprise SaaS solutions, including 3 of the 10 largest U.S. residential mortgage companies. Capsilon touches fifteen percent of all U.S. mortgages and, in 2017, $400 billion in mortgage loans went through Capsilon's platform. The company is headquartered in San Francisco and has more than 450 employees worldwide. For more information, visit capsilon.com

SOURCE Capsilon Corporation