Ellie Mae AIQ is document processing software by ICE Mortgage Technology. AIQ stands for Automation, Intelligence, Quality. Ellie Mae acquired Capsilon Docvelocity in 2019 and rechristened it to AIQ.
AIQ software works seamlessly with Ellie Mae Encompass & ICE Mortgage Technology Platform software suite.
Ellie Mae AIQ (AIQ by ICE Mortgage) is a mortgage document automation software for lenders, servicers and investors to automate document processing. It is a good option for lenders who are already using Encompass as their LOS.
However, if you are using any other 3rd party or custom built LOS, then integrating with AIQ is expensive & requires extensive engineering effort.
On the other hand, Vaultedge is a cloud-based AI powered document automation software that integrates with a wide range of LOS & servicing software - Encompass, Empower, Black Knight MSP, Wipro NetOxygen etc.
Both Vaultedge & Ellie Mae AIQ (AIQ by ICE Mortgage) provides 99+% system wide accuracy for learned documents.
Typical AIQ implementations last at least 90 days.
Whereas, Vaultedge can be configured and used in production in just a few days.
Ellie Mae AIQ has an interface and document workflows built specifically for the mortgage industry. However, it takes some time to learn the system.
However, Vaultedge offers a simpler interface that is optimized not just for pure-play lenders but also for lenders with in-house servicing.
With Vaultedge users can get started without undergoing extensive training sessions.
AIQ does not publish the number of documents and fields it handles.
On the other hand, Vaultedge automatically classifies 500+ documents and 2000+ fields from a loan file. More documents and fields are added on a continuous basis.
Ellie Mae AIQ has a native integration with Encompass. However, integrating with a 3rd party LOS is challenging & time-consuming.
Vaultedge can integrate seamlessly with any loan origination and servicing software like Ellie Mae Encompass, Blackknight Empower, Wipro NetOxygen, Blackknight MSP etc.
AIQ charges one time set up cost in the range of $100K & usage cost in the range of $20 - $25 per loan file processed. However there is a minimum commitment volumes and no free trial.
Vaultedge charges one time set up fee of $15,000 & usage cost of $15 per loan file processed. Vaultedge does not require you to have any minimum commitment and also offers a free trial.