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.
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.
Standard fields that are extracted
You can easily add, delete and move any field.
Name
Social Security Number
Type of Credit
Marital Status
Current Address
Current Income Details
Banks Accounts, Retirement and Other Details
Other Assets and Credits
Credit Cards and Debts
Other Liabilities and Expenses
Property Address
Status
Intended Occupancy
Monthly Insurance
Mortgage Loans on Property
Loan Amount
Loan Purpose
Property Address
Occupancy
Mortgage loans on Property
Rental Income
Gifts/Grants Given/Received
Name
Social Security Number
Type of Credit
Marital Status
Current Address
Current Income Details
Banks Accounts, Retirement and Other Details
Other Assets and Credits
Credit Cards and Debts
Other Liabilities and Expenses
Property Address
Status
Intended Occupancy
Monthly Insurance
Mortgage Loans on Property
Loan Amount
Loan Purpose
Property Address
Occupancy
Mortgage loans on Property
Rental Income
Gifts/Grants Given/Received
Docsumo Advantage
Cost Reduction
Halve your cost of operations when processing 50k+ statements/month.
Processing Time
Reduce turnaround time from hours to minutes.
Accuracy
Reduce manual errors and get precise data
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
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 preprocessing (deskewing, noise reduction, contrast correction) gives higher data extraction accuracy.
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
Docsumo makes it very simple to send extracted data to any other software with APIs & webhooks out of the box.
Extract Tables
Extract multipage tabes from PDF bank statements and convert them to excel or JSON data for downstream 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
Apply filters for dates, numbers and other regular expressions to extract data in desired format.
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 preprocessing (deskewing, noise reduction, contrast correction) gives higher data extraction accuracy.
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
Docsumo makes it very simple to send extracted data to any other software with APIs & webhooks out of the box.
Extract Tables
Extract multipage tabes from PDF bank statements and convert them to excel or JSON data for downstream 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
Apply filters for dates, numbers and other regular expressions to extract data in desired format.
Fill up the form to speak with an automation expert.
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