Yes. Banks and warehouse lenders that purchase loans often have to key the loan application data into a database or LOS by hand, which is expensive and time consuming. That step can be automated too.
LoanStacker was developed by ScanStore, a systems integrator for OCR data capture solutions. ScanStore has built ready-to-use recognition systems on ABBYY FlexiCapture that read common mortgage forms and capture their key information with OCR, including the:
- Uniform Residential Loan Application (1003)
- HUD-1 Settlement Statement
- Appraisal Report (1004)
LoanStacker and FlexiCapture work together. LoanStacker identifies and sorts the documents in the loan file, then routes specific documents to FlexiCapture for data extraction. The captured data can be uploaded automatically to any database or LOS, using the same integration methods LoanStacker uses for documents.
New forms are added all the time, and templates for other mortgage documents can be developed on request. Learn more about mortgage data capture or ask us about your forms.
