1008 Mortgage Application

Automate Loan Underwriting with Docsumo’s Form 1008 Automated Data Extraction API

Process form 1008 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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1008 Mortgage Application

Challenge

Form 1008 by Fannie Mae, also known as the Uniform Underwriting and Transmittal Summary, is often used by lenders to analyze the key summary data of an application, and make underwriting decisions based on that. 

Extracting data from semi-structured form 1008 accurately in real-time poses some challenges for underwriters. On top of that, there are multiple alternatives to this form that can be used for the same purpose that make the data extraction difficult, even for automated data extraction solutions.

Solution

With Docsumo, free up your essential resources by automating form 1008 processing with 99% accuracy.

With Docsumo, free up your essential resources by automating form 1008 processing with 99% accuracy.
Standard fields that are extracted

You can easily add, delete and move any field.

Borrower & Property Information

Borrower’s & Co-borrower’s Names

Property Type

Project Classification

Occupancy Status

Additional Property Information

Mortgage Information

Loan Type

Amortization Type

Loan Purpose 

Lien Position  

Note Information

Mortgage Originator

Underwriting Details

Underwriter’s Name

Appraiser’s Name/License Number

Appraisal Company Name

Stable Monthly Income

Qualifying Ratios 

Qualifying Rate

Risk Assessment 

Representative Credit/Indicator Score

Seller, Contract, & Contact Information

Seller Name & Address

Contact Name & Title

Seller Number

Investor Loan Number

Seller Loan Number

Docsumo Advantage

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

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

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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 1008 and extract information in real-time without needing technical skills or coding.

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.

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.

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.

Extract Tables
Extract Tables

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

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.

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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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