Getting started in mortgage

Onboard mortgage documents directly into your loan origination system (LOS) for faster decisions and process transparency. Ocrolus offers a variety of solutions for mortgage providers that revolve around document classification, data extraction, and data analysis. We classify, collate, and capture data fields from qualified and non-qualified mortgage applications.
These capabilities are offered through three channels:

1. Ocrolus web app
2. Direct Ocrolus API integration
3. ICE Encompass Integration

Example mortgage use case: A loan processor receiving a correspondent loan package

• Determine which mortgage documents are present in the application and if any are missing.
• Classify all received documents into their document repository.
• Transpose all necessary data from the documents into the loan origination system.
• Run calculations on the data to determine the borrower's credit worthiness.
• Income analysis:
  • Verification of income
  • Income calculators
• Asset analysis
• Credit analysis

The Ocrolus suite of products automates this entire process. We can classify mortgage documents, extract all necessary data from the provided documents, and run a variety of calculations and analytics on the extracted data.

We work with mortgage originators to expand mortgage form type support through its three-phase Encompass integration process, whereby:

• We connect into the lender's Encompass instance to learn document taxonomy.
• We map the lender's document taxonomy into standard Ocrolus form types.
• We map Ocrolus captured Ocrolus data into custom or standard Encompass data fields.

Support for common mortgage form types

The following is a list of common mortgage form types that we support out-of-the-box.

Income Forms

• 1040
  • Schedule 1
  • Schedule 2
  • Schedule 3
  • Schedule 4
  • Schedule 5
  • Schedule 6
  • Schedule 8812
  • Schedule A
  • Schedule B
  • Schedule C
  • Schedule C-EZ
  • Schedule D
  • Schedule E
  • Schedule EIC
  • Schedule F
  • Schedule H
  • Schedule J
  • Schedule LEP
  • Schedule R
  • Schedule SE
• 1040-X
• 1065
  • Schedule K-1
  • Schedules L, M-1, and M2
• 1099-INT
• 1099-K
• 1099-MISC
• 1099-R
• 1120
  • Schedule G
  • Schedules L, M-1, and M2
• 1120-S
  • Schedule K-1
  • Schedules L, M-1, and M2
• 1125-E
• Pay stub
• Pension Award letter
• SSA-1099
• Social Security award letter
• W-2

Employment Documents

• Pay stub
• Verification of employment
• Work Number
• W-2

Identity & Address Documents

• Driver's license
• H-1B visa
• Passport
• Passport card
• Permanent Resident card
• Social Security card

Assets

• Bank statement
• Brokerage statement

Applications

• 1003
• 4506-T

Property Documents

• Homeowner insurance policy
• Mortgage statement
• Payoff statement
• Preliminary title report
• Purchase Contract
• Tax bill