Automating mortgage processing data capture and data categorization with IDP

Before diving deep, let’s first understand how mortgage companies and mortgage loan application processing work.

Anyone that has bought a house has most likely gone through the mortgage process. It is the time between applying for a home loan and closing the process. During the process, the lender verifies and confirms the buyer’s credit record, and checks for the accuracy and completeness of records before approving the loan. Mortgage processing consists of multiple stages, such as the collection of all documents, loan application processing, underwriting, and closing. During the process, a loan processor or underwriter assembles all the required documents, then administers and processes the loan application paperwork. The mortgage processor, or loan processor, collects all the required documents and guides the buyer in finalizing all the paperwork. The steps can be quite complex, but the...