Bot Profile
Efficiency: high
Complexity: medium
OCR & Robotic Process Automation
TechnologyOutcomes
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
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).
- Identify and trigger exception routing to human processors