MIAMI--(BUSINESS WIRE)--Novaprime, a mortgage technology company dedicated to making homeownership more affordable, today makes its public debut with the launch of its AI-powered Loan Quality Platform. The platform is designed to improve the mortgage process by quickly evaluating loan integrity, reducing processing time from weeks to just days.
The platform intelligently understands and assesses the context of all loan details. It evaluates the loan purchase eligibility and data quality while also handling document management to help lenders operate effectively and empower people to get more done with less effort. Loan details needing attention are routed to a professional, which then creates a better borrower experience.
“We believe that by embracing technology, we can fundamentally change the way loans are processed, making it faster and more cost-effective for lenders, investors and borrowers,” said Linus Petrén, Chief Executive Officer of Novaprime. “Seamless integration of AI and Distributed Ledger Technology and our overall commitment to better loan quality will redefine industry standards.”
With Novaprime, each mortgage is represented as a smart contract compatible with MISMO standards, allowing mortgages to be easily transferred and managed throughout their entire lifecycle. Novaprime’s loan data platform, powered by Digital Asset's Canton Network, provides a new level of cross-organizational compatibility.
By streamlining how mortgages are originated, reviewed and purchased, Novaprime serves both lenders and investors. Lenders benefit from lower downstream risks and reduced reliance on manual work—resulting in savings and increased productivity. For investors, Novaprime ensures that loans are processed with high accuracy and efficiency, enabling faster post-purchase handling.
"Our new platform allows lenders to sell loans quickly, with high confidence in its accuracy, mitigating concerns of repurchase risks and improving the overall customer experience,” said Eden Kidane, Head of Product at Novaprime.
Novaprime’s marketplace product is already integrated with key entities such as Freddie Mac and others, providing comprehensive support for pricing, commitments and loan assessment to its mutual clients.
For more information about Novaprime and to learn more about the platform, visit https://novaprime.com/.
About Novaprime
Novaprime is a mortgage technology company dedicated to making homeownership more affordable. By leveraging emerging technologies like AI and Distributed Ledger Technology, Novaprime drives substantial savings and empowers lenders to offer more competitive mortgage products. As an approved technology provider with Freddie Mac and others, Novaprime is transforming how mortgage institutions and capital markets approach mortgage as an asset class. For more information, please visit https://novaprime.com/.
