In this Q&A-style interview, Alok Datta, Founder and CEO of Alchemist Solutions, shares his insights into the current state of mortgage origination, document automation, and quality control (QC).
According to a 2024 MetaSource QC findings report, underwriting-related defects— especially income/ employment and asset verifications — have overtaken closing disclosures as the most frequent issues in origination quality control.
That signals a systemic need for upstream data validation, and that’s exactly where our technology stack delivers. I believe that we shall see rapid adoption over the next 12-18 months.
Lenders must prepare for AI-driven QC engines that proactively detect and correct defects early in the process, especially in underwriting categories where error rates have increased by over 17% year-over-year.
Systemic need for upstream data validation. Leverage analytics coming out of digital solutions to reduce QC requirements. Moving towards document ingestion, doc to data conversion, intelligent versioning, and real‑time QC feedback.
Remote, digitized QC audits are becoming more viable, offering faster compliance responses with lower operational overhead. Lenders should also leverage the analytics coming out of the digital solutions and address the upstream issues to reduce the QC requirements over a period of time.
With evolving GSE requirements, lenders are moving toward integrated platforms with real-time dashboards, e‑signatures, and predictive LOS integrations.
Our core platform brings together document ingestion, doc to data conversion,
The most significant advantage is our ability to move QC upstream — detecting potential issues during origination instead of discovering them post-close. Clients using our platform have reduced average processing times by 40% and improved pull through and better QC pass rates s, building both investor confidence and operational resilience.
For more information about solutions offered by Alchemist, explore their website.