Mortgage Machine Services, offering digital origination technology to residential mortgage lenders, has launched Auto Split, an enhancement to the Click n’ File document management system embedded into the Mortgage Machine loan origination system (LOS).
Specifically designed to extract and store loan documents, Auto Split enables lending staff to improve loan processing efficiency, enabling mortgage lenders to optimize speed to close.
“With the introduction of Auto Split, we’re taking a significant step forward in streamlining loan processing for our clients,” says Jeff Bode, founder and CEO of Mortgage Machine Services, in a release. “This enhancement reflects our commitment to innovation, ensuring that mortgage lenders can operate with greater efficiency and precision. By automating document management within the Mortgage Machine LOS, we’re empowering our clients to reduce processing times and improve overall productivity, ultimately helping them achieve faster closings.”
Using artificial intelligence (AI), Auto Split seamlessly dissects large PDF loan files uploaded to Mortgage Machine into their individual components, automatically classifying each extracted document. From there, Click n’ File identifies, categorizes and indexes the information from these documents to sort them into the appropriate folders.
“Our goal with Auto Split is to empower lenders by reducing the time and effort required for document management,” says Dan McGrew, director of sales at Mortgage Machine. “By leveraging AI to automate the extraction, classification, and organization of loan documents, we’re providing our clients with a powerful tool that enhances operational efficiency and ensures accuracy throughout the loan processing workflow.”
In addition to incorporating the latest AI and document management, Mortgage Machine offers all-in-one e-closing functionality, including an e-close room, e-notes, e-vault and remote online notarization (RON).
The platform also includes SMART Doc data and security standards from the Mortgage Industry Standards Maintenance Organization (MISMO), enabling lenders to utilize this electronic document format throughout the entire lending process and even into loan servicing.