Artificial intelligence and bad credits. A revolution in document management.

As a start-up with a high technological value operating in Real Estate, REDD has recently entered a sector, that of non-performing loans, which is constantly expanding. Given the enormous amount of documents that characterize bank loans, the Start-Up has trained its Artificial Intelligence systems to automatically recognize and analyze the documentation accompanying debt exposures.

In fact, whether it is an NPL (Non Perfoming Loans) or a UTP (Unlikely To Pay), each position is accompanied by a set of documents necessarily submitted to the examination of the Asset Managers of the Credit Institution or of the Servicer (in the case for the assignment of receivables), for the assessment of the recoverability of the receivable. Sales Notices, Office Technical Consultancy, Notary Reports, Mortgage Contracts, Mortgage Registration Notes and Land Registry Surveys are just some of the documents accompanying a bad loan, the examination of which always requires a lot of time and not a little attention.

At the end of a long training period of the Artificial Intelligence software, however, REDD has finally implemented the service of analysis and automatic reorganization of real estate documents, OrganizeREDD (click here to learn more about the service), simplifying and shortening the document analysis process. for non-performing loans.

Particularly, the training focused on two fundamental documents for the purpose of asset valuation: Notice of sale and Office Technical Consultancy. Thanks to the machine learning system, the analysts have instructed the machine to automatically memorize, recognize and extrapolate the fundamental information present in them: from the data of the insolvency and / or executive procedure (e.g. Court, General Register Number, Execution Judge , Delegated professional, etc.), to the auction data (e.g. date, deadline for submitting offers, minimum amount foreseen for the deposit, etc.), to the specifications about the property placed as guarantee of the credit (e.g. land registry description and identification of the lots being sold, cadastral and building regularity, urban planning compliance, mortgage registrations, transcripts, origin in the last twenty years, any constraints, previous condominium expenses, market value of the property, etc.).

The software is now able to examine a single position in minutes. The analysis process begins with the loading of documents into the platform which, based on optical character recognition (OCR), analyzes them automatically. At the end of this phase, the analysts verify the correctness and completeness of the information recognized by the system. The process ends, in a few clicks, with the generation of an automatic report, identical to the one normally compiled manually by the customer, with a considerable saving in terms of time and money. It is a highly customizable output: a document in Excel or Word format, containing the information desired by the customer and characterized by the same layout generally used (eg fonts, colors, logos, etc.).

As is known, the suspension of executive procedures on the first home, initially envisaged until 31 December 2020 by art. 54-ter of the Cura Italia Decree (DL n. ‘art. 13, paragraph 14, of the Milleproroghe Decree (Legislative Decree No. 183/2020).

What better occasion, then, to proceed with a rapid and systematic reorganization of the documents accompanying a portfolio of non-performing loans?

Discover the advantages of OrganizeREDD: visit our website and request a demo to receive a customized report based on your needs!

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