MLO Originator Assistant Bot | Sourcepoint Mortgage

CoBot

MLO–Originator Assistant

Extracting information from standard & non-standard documents during origination process for both VA & FHA loans

Bot Profile

Efficiency

Complexity

OCR & Robotic Process Automation

Technology

Outcomes

Velocity

Productivity

Cost to Close

Benefits

Up to 70% process steps fully automated
250% increase in loan processing capacity

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Problem Statement

The evaluation of documentation and the comparison of information in the LOS is time consuming and mundane and data correction increases the opportunity for human error

Solution

Digital employee classifies and extracts information from standard & non-standard mortgage documents which is then used as an input by an RPA suite to update the Loan Origination System(LOS) and route exceptions to human processors

Tech Specs

MLO – Originator Assistant is an unattended digital employee powered by Mquotient OCR & Automation Anywhere RPA suite and can be easily integrated with any Loan Origination System(LOS).

Expertise

Extracting information from standard & non-standard documents during origination process for both VA & FHA loans
Documents it can extract data from are 1003, Bank Statement, LE, URLA Addendum, GUS Findings, AUS, ITP, Credit Report, Mortgage Statement, Note, Deed, Payoff, Purchase Agreement, VA Docs, FHA Docs, Borrower Authorization, Asset and Income Docs
Identify and trigger exception routing to human processors

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NMLS #266274

Notice for NV Residents: (1) Collection Agency License Number CAD11879; (2) Compliance Manager Certificate Number CM12767/NMLS #2388803 Compliance Manager.

Sourcepoint Solutions in lieu of Sourcepoint, Inc. NMLS #266274