Frequently asked questions

If you haven’t found what you’re looking for, please don’t hesitate to reach out to us about any questions or concerns. 

How does Rapidio ensure fast and accurate document classification and data extraction?

Rapidio harnesses over a decade of machine learning expertise, processing millions of applications to ensure fast and accurate document classification and data extraction. Its platform delivers swift processing for a vast majority of documents, efficiently resolving data conflicts with minimal manual effort. This powerful capability streamlines document handling, eliminating the need for extensive document training and enabling quick deployment to production. Learn more about Rapidio’s innovative approach here.

What are the main benefits of using Rapidio for mortgage underwriting?

Rapidio transforms mortgage underwriting by significantly reducing processing times and errors, enhancing scalability during high-demand periods, and ensuring data security. It streamlines operations with its advanced automated system, facilitating seamless document classification and extraction. This leads to more efficient, accurate underwriting and a better customer experience.

Is Rapidio suitable for all types of lenders, such as banks and credit unions?

Yes, Rapidio is well-suited for a variety of lenders, including banks, IMBs, mortgage brokers, and mortgage insurance companies. Its FlexStack components integrate seamlessly into different loan manufacturing processes, offering scalability and preventing overspend on technology at the loan level. Designed by underwriters, Rapidio provides the control, reliability, and flexibility needed to meet the evolving demands of today’s mortgage industry, ensuring it’s a valuable tool for institutions of all sizes.

How long does it typically take to implement Rapidio's solutions?

Implementing Rapidio’s solutions is quick and efficient. Registration takes just 5 minutes, allowing you to test the system with 5 free loans. Once you upload your first loan, you’ll promptly receive results, showcasing Rapidio’s fast and seamless integration into your processes.

Are there any setup fees?

There are no setup fees with Rapidio; you can register for free, upload your loan, and receive results promptly. It’s designed to be straightforward and user-friendly, allowing you to experience how it works with minimal effort. For a direct experience, simply give it a try.

What kind of customer support does Rapidio offer?

Rapidio offers unparalleled customer support, ensuring a smooth experience for all users. Whether you’re integrating our platform into your process or navigating its features, Rapidio’s dedicated team is ready to assist. We provide comprehensive help, from setup queries to technical troubleshooting, guaranteeing users have the support they need, when they need it.

How can one request a demo or get more information about pricing?

To explore Rapidio’s pricing or request a demo, simply head to our Pricing page for details on standard plans. If you’re looking to upload over 100 loans monthly, further information and tailored assistance can be obtained through our Request a Demo page. This direct approach ensures you receive the most accurate and helpful information tailored to your specific needs.

How does Rapidio's AI system ensure accurate loan conditions for customers?

Rapidio’s AI-powered system meticulously analyzes and provides precise loan conditions by leveraging advanced algorithms and a comprehensive database of lending criteria. Our technology continuously monitors updates from key industry sources, including Fannie Mae and Freddie Mac, to ensure our system reflects the most current standards and requirements. This real-time update mechanism guarantees that the loan conditions we offer are not only accurate but also up-to-date, enabling our customers to make informed decisions based on the latest compliance guidelines. Trust in our AI to simplify your loan processing with unmatched accuracy and efficiency.

Is my data secure with Rapidio?

Absolutely, data security is paramount at Rapidio, and we proudly uphold the highest standards of data protection. We are SOC 2 compliant, demonstrating our unwavering commitment to the security, availability, and confidentiality of your data. This compliance ensures that we have established and follow stringent security policies and procedures, from data encryption and secure access controls to regular security assessments. With Rapidio, you can rest assured that your data is handled with the utmost care and security, giving you peace of mind in every transaction.

Who Is Rapidio and what drives our mission?

In a world where data is the new gold, Rapidio emerged from a vision to revolutionize the mortgage industry. Over 12 years ago, we recognized the potential of harnessing the power of data classification and extraction to transform mortgage lending. It was more than just an idea; it was a commitment to making mortgage processing not only faster but also more reliable and accessible.

Our journey began with a challenge: to navigate through the complexities of mortgage applications that bogged down financial institutions with inefficiencies and inaccuracies. We knew there was a better way, and thus, the FlexStack Component System was born. Powered by our proprietary AI technology, FlexStack was designed to cut through the noise, offering a beacon of clarity and control in the often turbulent waters of mortgage underwriting.

Since then, Rapidio has processed over 17 million applications across Europe and the United States, each one a testament to our dedication to precision and efficiency. Our technology doesn’t just process data; it understands it, classifying and extracting information with an unparalleled level of accuracy that only years of expertise and innovation can provide.

But our story doesn’t end here. As we look to the future, our aspirations grow ever bolder. Rapidio stands at the forefront of the digital mortgage revolution, continually refining our systems, expanding our capabilities, and setting new benchmarks for what is possible in mortgage processing.

Join us as we continue to chart this exciting journey, rewriting the rules of mortgage lending and building a legacy of innovation and excellence that will stand the test of time. Welcome to Rapidio—where the future of mortgage processing is here.

Is Rapidio's Income Calculation service available on the ICE Mortgage Technology Marketplace?

Absolutely! Rapidio’s income calculation service is proudly offered on the ICE Mortgage Technology Marketplace. This integration ensures our state-of-the-art, AI-powered income calculation tools are readily accessible for users within the ICE ecosystem. By leveraging our service through the marketplace, clients can experience streamlined mortgage processing with enhanced efficiency and precision, directly contributing to faster decision-making and improved borrower satisfaction.