Accelerate loan setup times and get the file to the underwriter faster.
Accurately classify mortgage loan documents in minutes.
MOZAIQ’s document indexing platform harnesses the power of AI to become smarter the more documents it processes. It categorizes an entire mortgage (PDF) loan package into individual sub-documents using customizable rules and heuristics-based algorithms, labels the documents and organizes them into designated folders in the system of record (LOS). The system is pre-trained to classify over 350 documents, with new document types added weekly.
Over 350 document types classified
Enhanced OCR and Computer Vision Pipeline
Entity detection to classify which borrower is listed in a document
Can be trained with custom documents such as cover sheets
Configurable SLAs based on document volume and turn around times
Rapidly onboard and prep the loan for underwriting.
A combination of automated processes with seamless integration to the major LOS platforms (e.g., Encompass), allowing lenders to redeploy their resources to higher-value tasks. MOZAIQ’s Loan Setup module accelerates loan onboarding, facilitates the sending of disclosures, automates 3rd party service orders, locks in the rate, and preps the loan file for the underwriter.
Key Features: Automated functions that can be turned on or off:
3rd Party Service Orders: Ordering services from third party resources. For example, Fraud and Flood certifications, MI Quotes, Tax transcripts, etc.
Intent to Proceed: Monitor a pipeline for signed and returned initial disclosure documents, confirm availability of the documents, and clear applicable conditions prior to moving the loan to the next milestone.
Lock Confirmation: Once a rate is locked, the digital worker generates the lock confirmation document and emails it to the designated recipient and saves the document to the LOS
Send Initial Disclosures: For wholesale loans, review broker-submitted fees and loan information to generate Loan Estimate (LE). LE is sent to broker and once approved, the LE and initial disclosures are sent to borrower for signature
Redisclosures: After reviewing the updated loan information and fees based on submitted Change of Circumstance generate the new LE, additional documents, and disclosures, and send to the borrower