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, produce an application completeness report, 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 and M-1
• 1099-INT
• 1099-K
• 1099-MISC
• 1099-R
• 1120
  • Schedule G
  • Schedules L and M-1
• 1120-S
  • Schedule K-1
  • Schedules L and M-1
• 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
• 1008 transmittal summary
• 4506-T

Property Documents

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