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

Tell me more

    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
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