Welcome

Cortex is an AI-powered platform designed to enhance mortgage and financial services operations. It integrates seamlessly with your existing Loan Origination System (LOS) to automate and streamline the underwriting process. By directly analyzing source documents, Cortex ensures precision and speed, reducing the typical closing time from 50 hours to 3 minutes and cutting costs from $1,000 to $100 per loan, unlocking the potential of winning more deals.

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How Cortex Works

Cortex acts as a plugin to your existing LOS and external services/providers. It automates data extraction and analysis, providing comprehensive intelligent reports and actionable insights.

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Key Features

Cortex automates the underwriting process by extracting data directly from source documents. Whether it’s a standard 1003 application, an appraisal report, or another relevant document, Cortex processes the information accurately, even if the documents are scanned images with minor defects. Manual data entry is also supported to cater to various operational needs.

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Customizable Lending Programs

Cortex supports a wide range of products and solutions, including:

• Pre-Qualification
• Income Analysis
• Pre-Closing QC
• Post-Closing QC

For the following Eligible Loans:

• Non-QM
• HELOC
• Conventional, including high balance
• Purchase
• Refinance: Cash out, and Rate/Term
• Wage earner income
• Variable wage earner income
• Self-employed income
• Fixed income: Retirement, Social Security
• Interest & Dividend income
• TX (a)(6)
• ARMs
• Single application up to 2 borrowers with joint credit report

Supporting Documents:

• Paystub
• W2
• Written VOE/TWN – Verification of Income
• Bank statements – liquid assets
• Retirement asset statements – non-liquid assets
• Portfolio/brokerage statements
• VOA – Verification of Assets - numerous providers
• 1040
• Schedules B, C, E
• 1120S
• 1065
• 1120 corporation return
• K-1
• Purchase contracts
• Homeowners insurance
• SSA 1099 / SSA award letter
• Bank statement deposits – income
• Deposits from Social Security
• Tax filing extensions
• Military Leave and Earnings Statement (Active & Civilian)
• Certificate of Deposit

Property Types:

• Single Family residence
• 1-4 units
• Condominium
• Townhouse
• Planned Unit Development
• Manufactured Homes
• Owner Occupied
• Investment Properties
• Second Homes

If you need any other specific customization, our team will be happy to assist you.

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Rules, Configurations, and Conditions

Cortex allows for easy customization of lending rules to meet your specific requirements using the Cortex Workflow Builder. The platform provides a user-friendly interface to:

• Add, modify, and override rules based on specific lending criteria.
• Ensure unique requirements are met without extensive back-and-forth with engineering teams.

With Cortex, you have the flexibility to configure the desired output of each rule according to your specific needs:

• On success, the rule could Pass, Fail, or go to Manual Review.
• On failure, the rule could Pass, Fail, or go to Manual Review.

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Seamless Integration and Automation

Cortex is designed for automation at its core. Our Triggers feature connects to various LOS platforms and external service/providers. Whenever a new case is created, such as moving to the Qualification stage, Cortex will automatically pull the data and documents, create a new case (record) in Cortex, and start the analysis process. This ensures:

• No manual uploading or transferring files between systems.
• Streamlined workflows from day one.
• No need for any technical integration on your side.

For those who prefer manual data entry, Cortex also supports this method, offering flexibility to match your operational preferences.

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Detailed Analysis and Intelligent Reporting

Our AI generates comprehensive intelligent reports with recommended actions for specific credit decisions. These reports can be easily shared with your team and viewed through Cortex’s native UI or seamlessly pushed back into your existing systems, eliminating the need for additional platform training.

All reports can be customized through each workflow.

The main elements are:

• Top header blocks: Your most important metrics for this report.
• Rules applied to that loan case.
• Status for each rule.
• Description and outputs for each rule.
• Configuration applied to each rule.
• Technical view for each workflow.

By using Cortex, you’ll experience a significant boost in operational efficiency, cost savings, and underwriting accuracy, all while maintaining flexibility and ease of integration with your current systems.

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Next Steps

Ready to get started? Here are some resources to help you on your way:

Quick Start

Set up your Cortex account and start automating your underwriting process today.