TidalWave offers an AI-powered platform, SOLO, that automates the mortgage loan origination process through chat-based interactions, integrated underwriting systems, and real-time eligibility checks. This technology enables banks and mortgage brokers to expedite pre-qualification and reduce the administrative burden on loan officers, allowing them to close more loans efficiently.
Funding
Funding not disclosed
Founders
Product
Problem
The mortgage loan origination process is often slow and inefficient, involving numerous manual tasks and redundant data entry. Borrowers face anxiety due to complex application procedures and lengthy approval times, while loan officers struggle with administrative burdens that limit their productivity.
Solution
TidalWave offers SOLO, an AI-powered mortgage point-of-sale (POS+) platform designed to streamline and automate the loan origination process. SOLO uses a chat-based interface to guide borrowers through the application, providing real-time support and instant prequalification. The platform integrates with underwriting systems, loan origination systems (LOS), and verification services to automate tasks such as document collection, condition mapping, and eligibility checks. By automating repetitive tasks and providing a mobile-first experience, SOLO reduces the burden on loan officers, accelerates approval times, and enhances borrower satisfaction.
Target Audience
TidalWave targets independent mortgage banks (IMBs), banks, and credit unions seeking to improve loan officer productivity, reduce operational costs, and enhance the borrower experience.
Features
- Agentic AI platform analyzes structured and unstructured data to automate repetitive tasks.
- Chat-based interface guides borrowers through the application process.
- Integrated with Fannie Mae's DU® and Freddie Mac's LPA℠ for automated underwriting.
- Multilingual support for borrower applications, including Spanish.
- Automated condition mapping and task tracking based on underwriting system requirements.
- Integrations with leading LOS providers (ICE / Encompass, MeridianLink, and Calyx Path) via APIs.
- Mobile app provides real-time borrower communications and status updates for loan officers.
- Hallucination-free AI ensures accurate and reliable communication.