Many Loan Origination Software (LOS) systems have scanning capabilities, but the process of manually labeling each document is so cumbersome that very few companies fully adopt a paperless workflow. LoanStacker automates the loan scanning process with optical character recognition (OCR) and barcode recognition, allowing you to take full advantage of the features of your lending software investment.
LoanStacker recognizes unique keywords in the OCR text to identify all of the documents in both Origination and Closing packages, even most borrower-supplied documents like pay stubs, bank statements and tax returns. While other mortgage scanning applications can only recognize barcoded files (if that), LoanStacker adds intelligent OCR to identify every document in the loan. Barcodes are read first since they are faster and more accurate when available, but if no barcode is found the OCR keyword matching algorithm is applied. LoanStacker also outputs PDF Image+Text files, allowing you to search for any word in the body text of the document.
Once identified and labeled, the files can be attached to corresponding tasks and conditions in the processing workflow or re-sorted into stack orders for submission. This makes the paperless lending process possible by making it easier to work with electronic documents than it is to stick with the paper.
"LoanStacker's document recognition, naming and seamless
integration with the Encompass eFolder has made our company more efficient and
profitable. Organized paperless files easily accessible by all departments from
multiple locations has revolutionized HomeStar's business."
-Wes Hunt - President, HomeStar Financial
Mortgage pdf solutions by LoanStacker automates mortgage document scanning and sorting with OCR.
LoanStacker is a one of a kind solution for mortgage pdf. It doesn't just scan mortgage documents, it identifies each one so it can be used to automate the approval process. It is the missing link in paperless loan processing.
LoanStacker includes:
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SimpleIndex
document scanning &
OCR software
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Configuration files for recognizing mortgage documents
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Release scripts for BytePro®, NetOxygen® and Ellie Mae Encompass®
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Professional business process analysis and Encompass configuration services
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integrates with
BytePro Mortgage & Ellie Mae Encompass
Scanning documents is required to unlock the full potential of these powerful mortgage applications. But it can take hours to label and attach the hundreds of applications, disclosures, credit documents and other required forms using the built-in interface.
Integrations & Demo Videos
articles & resources
Several relevant articles on loan document scanning and paperless mortgage applications.
"Go paperless in your office and stop being a slave to a bygone practice. At the same time you’ll save time, money, effort, and gain a PR windfall benefit by going "green." Explore Electronic Document Management alternatives."
-James Hennessy, Mortgage Originator
more paperless mortgage articles