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Stock impact report

Rocket Mortgage'S AI Technology: The Future of Mortgage Lending [Forbes]

Q2 Holdings, Inc. (QTWO) 
Last q2 holdings, inc. earnings: 2/19 04:30 pm Check Earnings Report
Company Research Source: Forbes
Accelerating loan closing times by an impressive 25%. AI-Driven Automation Streamlines Document Processing Rocket Logic harnesses the power of generative AI, automation and machine learning to gather and process the documents required for mortgage underwriting seamlessly. Its "event-listener architecture with a continual feedback loop" optimizes data population, verification and qualification according to U.S. Patent No. 11,921,696, 2024 This sophisticated system automatically identifies close to 70% of the 1.5 million documents submitted monthly, eliminating over 5,000 hours of manual labor for underwriters in a single month. Additionally, it extracts and processes 4.3 million data points from documents, resulting in a staggering 4,000 hours saved. According to ValuePenguine , mortgage lenders spend an average of 24 to 72 hours underwriting each loan. Rocket Mortgage's Rocket Logic has the potential to significantly reduce this time, leading to substantial cost savings and impr Show less Read more
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