Encapdia offers mortgage loan document classification, separation, and extraction in the cloud.
A loan document file can be up 500 pages with over 50 different document types (loan application, bank statements, appraisal, W2, tax returns, etc.). Our solution automatically separates a combined document like PDF or multipage TIFF files into individual document types for further processing and analysis. This significantly reduces the labor and time traditionally required to move these documents into the underwriting, storage or retrieval process.
Want to know how other mortgage lenders like Quicken Loans, Wells Fargo Bank or loanDepot are able to make loan decisions within 45 days or less? Talk to our email@example.com for some ideas.
Automatically classifying documents allows for faster and more effective document organization and extraction of relevant data to support your downstream processes and workflows, maximizing your organization’s competitive advantage. Quickly processing approvals, funding mortgage loans, and having high levels of customer satisfaction provide unique advantages to organizations in today’s competitive marketplace. The Encapdia solution also allows for increased productivity with lower labor costs, improved operational efficiency and compliance.
Properly classifying documents gives you the foundation to accurately pull the account number and validate the account information against your existing databases. Building upon the document classification and leveraging extraction provides regulated industries with an ability to be agile and conform to the ever-evolving compliance landscape.
Encapdia’s patented Classification Engine does this in a unique way, different then all others currently offered in the market place. We do this by using content-based extraction combined with complex algorithms and industry specific terms and combinations, teaching and learning provides the system with the most accurate OCR rates.
If we don’t have a specific document type you need processing, we will happily configure this document at NO COST to you.
Ensuring we have the right document with the correct page separation differentiates Encapdia from other applications. Using complex machine learning technologies, we have the designed the system to accurately and realiably separate even the most difficult document types like appraisals.
If we do mis-separate any document type, with your assistance using our software’s User Interface feature that you can download, the correction you make will go into the long term knowledge of the engine ensuring you won’t have to correct any document type repeatedly. This results in the lowest amount of exceptions for your staff to correct and work, decreasing your overall acquisition or loan costs.
Accuracy is essential when using classification and separation technologies. Getting the right data to the right systems quickly and efficiently, removes the need for data entry, long processing times and accurate information for compliance.
We have found that the most essential data element in any mortgage loan is the account number. Today, we extract this field for you and document type name. If you would like more fields extracted, please send us a request.
If you would like further information on our processing capabilities, please reach out to firstname.lastname@example.org to start your conversation.