LoanStacker is a document classification solution for mortgage loan files. Built on SimpleIndex, it automates the scanning, sorting and filing of loan documents so your staff no longer have to label each page by hand.
A typical loan file runs to 100 to 200 pages. LoanStacker processes the whole file in four steps:
- Scan. Scan the loan file with any desktop scanner or networked copier.
- Recognize. LoanStacker uses Optical Character Recognition (OCR) and barcode recognition to identify each document. It knows over 400 mortgage origination and closing documents out of the box.
- Name and sort. Each document is saved as a separate file under a standard name, can be assigned a category such as Assets, Credit or Disclosures, and can be sorted into an investor stack order.
- Review and release. A user reviews the batch and releases it, and the named documents are exported to your loan origination system (LOS) or document management system, attached to the right loan.
Because each document is labeled automatically, a scanned loan file becomes usable for underwriting and shipping without hours of manual indexing. It also unlocks the document tracking, checklists and business rules in LOS packages that only work when each document is identified in the loan’s e-folder.
