A cloud-based data lake and immutable ledger, Staircase Persistence, has been launched by the company to help lenders store and manage their mortgage data using AWS Blockchain technology. As a result, Staircase Persistence helps lenders and their partners share verified, high-confidence data while enabling faster automated workflows when used in conjunction with other Staircase products.
Persistence Staircase maintains a client’s mortgage data in its native format and quickly delivers results that are simple and easy to use. The REST API is available for use by anyone. Data is organised into sets, such as transactions, collections, blobs, and client accounts, using Staircase Persistence to help companies manage the complexity of data points used by their various partners. Machine learning can be used to extract data from the Staircase Persistence database, as well as other mortgage-related operations like loan application processing and data translation.
When it comes to ensuring the integrity of data and its sources, Staircase Persistence uses AWS Blockchain technology. Mortgage servicers and lenders alike benefit from staircase persistence because it allows them to work more quickly while also ensuring the safety and integrity of their information at all times. Because the product is available to any company that uses Staircase products, clients don’t have to learn how to use Staircase Persistence; Staircase simply stores and manages the data on their behalf.
When it comes to data, “few industries deal with a greater volume of data from different sources” than the mortgage industry, says Staircase cofounder and CTO Soofi Safavi. To date, there has not been a simple way to store and access “big data” in ways that make it easier to perform any of the numerous processes that occur throughout the mortgage lifecycle. “With Staircase Persistence, any mortgage industry participant—whether a lender, software company, or third-party service provider—can store and use data in ways that work best for them.”
Staircase Persistence follows the recent launch of Staircase Language, which enables any mortgage company to instantly translate data from any data language into another language using a single line of code. The result is that lenders, servicers, software companies, and third-party service providers can all work together without having to change their own data language.
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