1003 Mortgage Application

Speed up your loan approval process with automated form 1003 processing

Process updated or legacy 1003 forms with over 99% accuracy and approve loans faster. Docsumo’s automated processing solution helps you approve loans in real time eliminating the possibility of any error. Risk assessment made smoother with Intelligent OCR API.

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1003 Mortgage Application

Challenges

Form 1003 is one of the most crucial documents when it comes to mortgage lending risk assessment. Mortgage lenders have to process hundreds of forms to analyze the financial security and reliability of the borrower. 

These forms are often processed manually, which comes with possible human errors and delayed processing time.

Solution

With Docsumo, free up your essential resources by automating form 1003 processing with 99% accuracy.

With Docsumo, free up your essential resources by automating form 1003 processing with 99% accuracy.
Standard fields that are extracted

You can easily add, delete and move any field.

Borrower Information

Name

Social Security Number

Type of Credit

Marital Status

Current Address

Current Income Details

Asset and Liabilities

Banks Accounts, Retirement and Other Details

Other Assets and Credits

Credit Cards and Debts

Other Liabilities and Expenses

Financial Details Real Estate

Property Address

Status

Intended Occupancy 

Monthly Insurance

Mortgage Loans on Property 

Loan and Property Information

Loan Amount

Loan Purpose

Property Address

Occupancy

Mortgage loans on Property 

Rental Income

Gifts/Grants Given/Received

Docsumo Advantage

70%
Cost Reduction
Halve your cost of operations when processing 50k+ statements/month.
< 30 sec
Processing Time
Reduce turnaround time from hours to minutes.
98%+
Accuracy
Reduce manual errors and get precise data

Enter your metrics to find out how Docsumo can add value!

Get a free ROI report and see the impact of your document automation project.

Tell us where you are today
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This is what your document processing operations could look like tomorrow
Based on real benchmarks from Docsumo customers, this is what we project for you and your team.
80 %
Straight through
Processing
$ 0
Total Cost
Reduced
< 30 sec
Average
processing  time
0 hrs
Total time
saved
$300k
Projected ROI

Features

Build an automated loan approval solution within minutes. Scan form 1003 and extract information in real-time without needing technical skills or coding.

Batch Uploads
Batch Uploads

Simply drag and drop documents from your local disk to upload your files in batches. You can also use our API or cloud integrations to automatically import your documents.

Advanced Image Processing
Advanced Image Processing

Advanced image preprocessing (deskewing, noise reduction, contrast correction) gives higher data extraction accuracy.

Easily Download Data
Easily Download Data

Docsumo converts PDF to CSV, Excel, JSON and XML files formats. You can download extracted data for any date range in the format you like.

Integrate with API or Webhooks
Integrate with API or Webhooks

Docsumo makes it very simple to send extracted data to any other software with APIs & webhooks out of the box.

Extract Tables
Extract Tables

Extract multipage tabes from PDF bank statements and convert them to excel or JSON data for downstream processing.

Amazingly Fast Processing
Amazingly Fast Processing

It takes less than a minute to import a document, process it, extract all data fields from it and send the data to other apps.

Smart Filters
Smart Filters

Apply filters for dates, numbers and other regular expressions to extract data in desired format.

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We’d love to show you how you can increase your productivity, process your documents faster and save operations cost!

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