Third Party Quality Control and Review Firm for Residential Mortgage Backed Securities to Implement New Automated Classification and Processing Technology
ATLANTA, June 25, 2019 /PRNewswire/ — The StoneHill Group (TSG), a national third-party mortgage services firm announced today their partnership with BeyondRecognition (BR) to implement BR’s visual classification technology in the mortgage industry. Validated by many of the nation’s leading investors and ratings agencies as an attested Third Party Review (TPR) firm, TSG will utilize BR technology to improve the accuracy, flexibility, and turnaround time of its loan services, ranging from traditional loan quality control to litigation-based loan reviews and other RMBS services.
As explained by Patrick Gluesing, President of TSG, “The essential functionality for any review of residential mortgage files is being able to accurately identify which documents and data are present. All downstream functions depend on this. BR’s unique visual classification system avoids the cost and inefficiencies of the normal industry approach of using text-based OCR augmented with extensive manual clean up.”
Gluesing continued, “With a classification system that can handle our 250+ unique clients and their document sets, we are using BR to improve our internal processes and plan to extend classification and extraction as value-added services to our clients later this year.”
John Martin, founder and CEO of BeyondRecognition, said, “BR technology creates self-forming groupings of visually-similar documents that our clients can then rapidly classify. This allows organizations to bypass the high-cost and low-quality OCR technologies that for many years have been the backbone of the legacy approach to document-centric workflows.”
About the StoneHill Group, Inc.
Founded in 1996, The StoneHill Group provides nationwide mortgage outsource solutions that include quality control program development and audit services, due diligence, processing, underwriting, closing, and loan delivery. For more information please visit www.stonehillgroup.com or call 1.877.399.1936
About Beyond Recognition LLC
BeyondRecognition is a technology company specializing in enterprise-scale document classification and data extraction software based on its unique visual classification and glyph analytics capabilities. For more information on BeyondRecognition, visit www.BeyondRecognition.net, or call 346.901.6233.
Patrick S. Gluesing, President
The StoneHill Group, Inc.
John Martin, CEO