CoBot

MLO – Appraisal Helper

Extracting & classifying information from appraisal documents received from AMC’s during origination process for both VA & FHA loans

Bot Profile

Efficiency

Complexity

OCR & Robotic Process Automation

Technology

Outcomes

Velocity

Productivity

Cost to Close

Benefits

100% automation with reduction in loan processing time to 15 mins from 30 mins
Up to 200% increase in loan processing capacity

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Problem Statement

The review of an appraisal document and input of data in the specific LOS is time consuming and is prone to human error.

Solution

Digital employee extracts & classifies information from appraisal documents received from different AMCs and updates information in the Loan Origination System(LOS) thereby improving accuracy.

Tech Specs

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

Expertise

Extracting & classifying information from appraisal documents received from AMC’s during origination process for both VA & FHA loans
Updating information in the Loan Origination System (LOS)
Identifying and triggering exception routing to human processors

Resource Type