Mortgage Document Automation

Mortgage Automation Software for Complex Document Processing

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Ensure Faster Processing With Mortgage Document Automation

Regulatory Challenges

When changes are needed due to new business or regulatory requirements, it often takes a significant amount of effort to make them. If you need to work with information on supporting documents, such as detection and verification of notary stamps, signatures and initials, the process is typically manual. Against a backdrop of increasing customer demand with expectations of quicker response times and processes, the problem just won’t go away.

The Processing Problem

Most solutions for automating the process of mortgage document classification, separation and data extraction are based on legacy technology that hasn’t kept up with the promise of modern advancements including deep learning. This means a tremendous amount of work is required to configure and maintain systems to achieve relatively low amounts of automation. And you’re probably keeping staff swamped just verifying all the output.

 

A Better Solution

Parascript has been achieving high levels of “touchless automation” for over 25 years. Just ask the world’s leading banks, insurers and government agencies who have partnered with Parascript to achieve automation that reaches the highest levels of straight through processing. This means that the majority of data gets processed and never has to be reviewed. The systems can intelligently discern between good data and data that genuinely requires review. The results are improved throughput and lower costs, with greater adaptability, accuracy and certainty.

Loan and Mortgage Application Processing

Parascript Smart Learning offers highly adaptive, reliable automation without the typical cost and complexity. Our software automatically learns from your data how to perform tasks at accuracy rates that surpass human performance without the hundreds of hours of expense to get it up-and-running.

 

Smart Learning is a document-focused learning platform that combines decades of document and image expertise of our R&D group with the latest in machine learning technologies to deliver high levels of reliable automation without the need to write a single line of code and without the need to have trained staff. Discreet machine learning algorithms, tuned to solve specific tasks, are expertly applied to solve the widest range of automation tasks. The result is a significantly faster time to live. The system auto-configures and runs without the need for supervision.

Dynamic Classification

Automatically organize your documents to support compliance, discovery and data management.

Auto-Configuration

FormXtra.AI Smart Learning, auto-configuration software delivers the highest accuracy and straight through processing.

Data Extraction

Capture data from anywhere on the document, eliminating manual data entry and reducing costs.

Questions?
Want more details?

Allow the experts at Parascript to walk you through our advanced capture software and the features that will allow you to save time and money on manual entry processes. Our development team works with you through the entire process, and using machine learning, you’ll be up and running in no time.

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News and Innovations

Executive Briefing: Mortgage Automation

Faster, more-adaptive processes are the main focus of automation for any organization. Increasingly, this means applying automation to more complex, document-based information. One of the best examples of complex document-oriented processes is loan processing. Manual document processing can be fully automated with a high degree of precision using modern automation.

From simple loan applications to more complex appraisals and proof of assets documentation, mortgage documents represent one of the most difficult automation challenges. Analysis of the processing workflow has shown that the per-loan cost has increased over 300% due to the amount of paperwork required placed against the desire to make the loan process faster and more convenient.

Find out how to significantly reduce these costs while actually increasing classification and data extraction accuracy in this executive briefing.

    Download Executive Briefing

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