Ocrolus, a company specializing in AI-driven financial document automation, has launched an enhanced dashboard for mortgage lenders, featuring the ability to automate income calculations for both traditional and self-employed borrowers. The solution combines three Ocrolus capabilities – Classify, Capture and Analyze – into one product, specifically for the mortgage industry.
Ocrolus’ mortgage offering provides three key capabilities that empower mortgage lenders to improve their operations, including:
- Classify – enabling lenders to speed up processing time with automated document indexing.
- Capture – combining AI computer vision and human validation to extract key information from documents with over 99% accuracy.
- Analyze – enabling lenders to streamline income calculation for both traditionally and self-employed borrowers with automated, transparent and flexible worksheets.
Ocrolus offers a host of benefits to both wholesale and direct mortgage lenders. The company offers lenders the ability to streamline the qualification process for non-traditionally employed applicants and applications with several borrowers or employers. This allows them to consider various calculations, from most to least conservative, based on borrowers’ unique situations. This streamlined approach helps lenders make faster and more informed decisions by leveraging trusted data.
Additionally, Ocrolus’ mortgage offering provides an objective and standardized approach to evaluating the borrower’s income, resulting in increased confidence in lending decisions and reduced risk of human error. And with simplified note and comment tracking for loan officers and processors, Ocrolus supports streamlined communication in every step of the loan origination process.
The mortgage offering can integrate with any lender’s existing workflow and loan origination system, via Ocrolus’ dashboard, an API connection or integration with Encompass by ICE Mortgage Technology.
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