Release notes

In this release, we've introduced Ocrolus Widget, expanded Mortgage Analyze with new income coverage, and added support for new Classify and Capture document types.

What's new?

Widget

We are excited to announce the new widget functionality in Ocrolus Dashboard. The Ocrolus widget is designed to streamline financial data collection and processing to provide lenders with seamless integration, enhanced customization, and advanced cash flow analytics.

Features

The Ocrolus widget is equipped with the following features:

Document Upload Functionality

• Borrowers can now upload their bank statements directly through the widget.
• Uploaded documents are securely stored in Ocrolus's system under the borrower’s Book, enabling advanced analytics and enriched cash flow insights.

Plaid support

• Asset Report Analytics: Widget fetches Plaid Asset Reports (in JSON format) for connected bank accounts to provide lenders with comprehensive data ready for advanced analytics.
• Auth API Integration: Plaid’s Auth API ensures secure bank account verification by retrieving account and routing numbers for underwriting purposes.

Custom Branding Options

• Lenders can customize the widget’s appearance (e.g., colors, text) through the Ocrolus Dashboard.
• This ensures a cohesive borrower experience that aligns with the lender’s branding.

To learn more about the widget and its capabilities, see Widget.

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Classify and Capture

New Classify and Capture supported documents

The Classify and Capture supports are enabled for the below documents. Click the category name below to expand/collapse the list of newly supported documents:

Legal

• Professional Liability Insurance

Property

• Certificate of Liability Insurance

Tax

• 1040 (2024) - U.S. Individual Income Tax Return
• 1040 Schedule 1 (2024) - Additional Income and Adjustments to Income
• 1040 Schedule 2 (2024) - Additional Taxes
• 1040 Schedule 3 (2024) - Additional Credits and Payments
• 1040 Schedule 8812 (2024) - Credits for Qualifying Children and Other Dependents
• 1040 Schedule A (2024) - Itemized Deductions
• 1040 Schedule B (2024) - Interest and Ordinary Dividends
• 1040 Schedule C (2024) - Profit or Loss From Business
• 1040 Schedule D (2024) - Capital Gains and Losses
• 1040 Schedule E (2024) - Supplemental Income and Loss
• 1040 Schedule EIC (2024) - Earned Income Credit
• 1040 Schedule F (2024) - Profit or Loss From Farming
• 1040 Schedule H (2024) - Household Employment Taxes
• 1040 Schedule J (2024) - Income Averaging for Individuals With Income from Farming and Fishing
• 1040 Schedule R (2024) - Credit for the Elderly or the Disabled
• 1040 Schedule SE (2024) - Self-Employment Tax
• 1040-SR (2024) - U.S. Income Tax Return for Seniors
• 1065 (2024) - U.S. Return of Partnership Income
• 1065 Schedule K-1 (2024) - Partner’s Share of Income, Deductions, Credits, etc.
• 1065 Schedule K (2024) - Partners’ Distributive Share Items
• 1065 Schedules L, M-1, and M-2 (2024) - Balance Sheets (L), Income Reconciliation (M-1), and Analysis of Partners' Capital Accounts (M-2)
• 1120 (2024) - U.S. Corporation Income Tax Return
• 1120 Schedules L, M-1, and M-2 (2024) - Balance Sheet (L), Income Reconciliation (M-1), and Analysis of Unappropriated Retained Earnings (M-2)
• 1120S (2024) - U.S. Income Tax Return for an S Corporation
• 1120S Schedule K-1 (2024) - Shareholder’s Share of Income, Deductions, Credits, etc.
• 1120S Schedule K (2024) - Shareholders’ Pro Rata Share Items
• 1120S Schedules L, M-1, and M-2 (2024) - Balance Sheet (L), Income Reconciliation (M-1), and Analysis of Accumulated Adjustments Account (M-2)
• 4835 (2024) - Farm Rental Income and Expenses

To learn more, see the All Supported Documents page.

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Classify

New Classify-specific documents support

Classify support is now enabled for the below Tax category documents.

• 1065 Schedule B (2024) - Other Information
• 1120S Schedule B (2024) - Other Information

To learn more, see the All Supported Documents page.

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Enhancements

Mortgage

Expanded income coverage

We’re excited to expand the income coverage in Ocrolus Analyze for Mortgage to include calculations based on Freddie Mac, FHA, VA, and USDA guidelines, in addition to our existing support for Fannie Mae guidelines.

• For Encompass Clients: Income calculations will now automatically reference Encompass data and provide results aligned with the selected loan guidelines for immediate review.
• For Dashboard Users: You can now toggle between different guidelines using a convenient dropdown menu, selecting the income calculation standard that best suits your needs.

This enhancement empowers you to support a broader range of loan types by increasing efficiency and flexibility in your lending process. To learn more, see the Mortgage Analyze section.

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Classify and Capture

Additional attribute support

Ocrolus now offers support for the following attributes within the specified document type configuration:

• Closing Protection Letter
  • closing_protection_letter-Part1-General:isTheDocumentSigned?
    
    
• IRS Form 1040-X - Amended U.S. Individual Income Tax Return
  • 1040_x-Part1-General:thisReturnIsForFiscalYear:month
  • 1040_x-Part1-General:thisReturnIsForFiscalYear:year
    
    

Analyze

SMB Analytics - Excel download & API

The previous Lender Analytics export has been renamed SMB Analytics to align with the use cases and data encompassed in the report. No other changes have been made to the export. Click on the links provided for information on the most recent enhancements to SMB Analytics including a redesigned experience and new tabs for debt, revenue, and expenses.

We regularly update our tag constants to improve data consistency and standardization—Analytics 1.08 has been released with the latest updates.