AI Mortgage Application Processing
AI Mortgage Application Processing
Accelerate loan origination and reduce errors
Accelerate loan origination and reduce errors
V7 Go automates the tedious process of mortgage application review extracting borrower data verifying income and assets and checking for completeness in a fraction of the time.
What is it
What is it
Loan Origination Automation
A mortgage application is a standardized document used by lenders to assess a borrower's creditworthiness. It collects detailed information about income assets and liabilities.
How is it solved today?
Loan processors manually re-key data from application forms and then painstakingly cross-reference it with supporting documents like pay stubs and bank statements.
How is it solved today?
Loan processors manually re-key data from application forms and then painstakingly cross-reference it with supporting documents like pay stubs and bank statements.
How is it solved today?
Loan processors manually re-key data from application forms and then painstakingly cross-reference it with supporting documents like pay stubs and bank statements.
Why V7 Go
V7 Go's agent automatically reads the application and all supporting documents extracts and validates the data and flags any discrepancies for the underwriter's review.
Why V7 Go
V7 Go's agent automatically reads the application and all supporting documents extracts and validates the data and flags any discrepancies for the underwriter's review.
Why V7 Go
V7 Go's agent automatically reads the application and all supporting documents extracts and validates the data and flags any discrepancies for the underwriter's review.
Time comparison
Time comparison
Time comparison
Traditional way
3-5 days
3-5 days
With V7 Go agents
2-4 hours
2-4 hours
Average time saved
90%
90%
Why V7 Go
Process mortgage applications, bank statements, and W-2s.
Verify income, assets, and calculate DTI and LTV.
Workflow
Workflow
Import your files
Encompass
,
Calyx Point
,
Black Knight
Uniform Residential Loan Application (1003)
Uniform Residential Loan Application (1003)
Uniform Residential Loan Application (1003)
Bank Statements
Bank Statements
Bank Statements
Pay Stubs & W-2s
Pay Stubs & W-2s
Pay Stubs & W-2s
Tax Returns
Tax Returns
Tax Returns
Property Appraisals
Property Appraisals
Property Appraisals
Credit Reports
Credit Reports
Credit Reports
Borrower Personal Information
Borrower Personal Information
Borrower Personal Information
Income & Employment History
Income & Employment History
Income & Employment History
Asset & Liability Details
Asset & Liability Details
Asset & Liability Details
Property Information & Value
Property Information & Value
Property Information & Value
Credit History & Score
Credit History & Score
Credit History & Score
Verification of Stated Income
Verification of Stated Income
Verification of Stated Income
Completeness Checklist Status
Completeness Checklist Status
Completeness Checklist Status
Discrepancy & Exception Flags
Discrepancy & Exception Flags
Discrepancy & Exception Flags
Debt-to-Income (DTI) Calculation
Debt-to-Income (DTI) Calculation
Debt-to-Income (DTI) Calculation
Loan-to-Value (LTV) Calculation
Loan-to-Value (LTV) Calculation
Loan-to-Value (LTV) Calculation
Why V7 Go
Why V7 Go
Automated Data Extraction
Accurately capture all data points from mortgage application forms (like the 1003) and supporting documents eliminating manual data entry.
Automated Data Extraction
Accurately capture all data points from mortgage application forms (like the 1003) and supporting documents eliminating manual data entry.
Automated Data Extraction
Accurately capture all data points from mortgage application forms (like the 1003) and supporting documents eliminating manual data entry.
Income & Asset Verification
The agent automatically reads pay stubs W-2s and bank statements then cross-references the data with the information provided on the application to flag any discrepancies.
Income & Asset Verification
The agent automatically reads pay stubs W-2s and bank statements then cross-references the data with the information provided on the application to flag any discrepancies.
Income & Asset Verification
The agent automatically reads pay stubs W-2s and bank statements then cross-references the data with the information provided on the application to flag any discrepancies.
Completeness Checking
Instantly verify that a loan package is complete and that all required documents and signatures are present before it moves to underwriting reducing back-and-forth delays.
Completeness Checking
Instantly verify that a loan package is complete and that all required documents and signatures are present before it moves to underwriting reducing back-and-forth delays.
Completeness Checking
Instantly verify that a loan package is complete and that all required documents and signatures are present before it moves to underwriting reducing back-and-forth delays.
Improved Underwriting Efficiency
Cut the time it takes to process a loan application from days to hours leading to faster approvals and a significantly better experience for borrowers.
Improved Underwriting Efficiency
Cut the time it takes to process a loan application from days to hours leading to faster approvals and a significantly better experience for borrowers.
Improved Underwriting Efficiency
Cut the time it takes to process a loan application from days to hours leading to faster approvals and a significantly better experience for borrowers.
Improved Underwriting Efficiency
Provide underwriters with a clean validated and structured data file. This allows them to focus on making credit decisions not on administrative data verification.
Improved Underwriting Efficiency
Provide underwriters with a clean validated and structured data file. This allows them to focus on making credit decisions not on administrative data verification.
Improved Underwriting Efficiency
Provide underwriters with a clean validated and structured data file. This allows them to focus on making credit decisions not on administrative data verification.
Regulatory Compliance
Ensure compliance with lending regulations like TILA-RESPA (TRID) by systematically checking for required disclosures and accurate fee calculations.
Regulatory Compliance
Ensure compliance with lending regulations like TILA-RESPA (TRID) by systematically checking for required disclosures and accurate fee calculations.
Regulatory Compliance
Ensure compliance with lending regulations like TILA-RESPA (TRID) by systematically checking for required disclosures and accurate fee calculations.
V7 Go
V7 Go
V7 Go
AI-powered loan origination
AI-powered loan origination
for mortgage lenders
Processing mortgage applications is a significant bottleneck in the lending industry involving dozens of hours of manual data entry and verification across multiple documents. This slow error-prone process leads to poor borrower experiences and higher operational costs. V7 Go automates this workflow turning mountains of paperwork into validated decision-ready data in minutes.
Loan Processors
Eliminate hours of manual data entry and document checking. Focus on managing the pipeline and communicating with borrowers not on paperwork.
Loan Processors
Eliminate hours of manual data entry and document checking. Focus on managing the pipeline and communicating with borrowers not on paperwork.
Loan Processors
Eliminate hours of manual data entry and document checking. Focus on managing the pipeline and communicating with borrowers not on paperwork.
Mortgage Underwriters
Receive a complete validated loan file ready for decisioning. Spend your time on risk assessment and credit analysis not on verifying data points.
Mortgage Underwriters
Receive a complete validated loan file ready for decisioning. Spend your time on risk assessment and credit analysis not on verifying data points.
Mortgage Underwriters
Receive a complete validated loan file ready for decisioning. Spend your time on risk assessment and credit analysis not on verifying data points.
Delegate mortgage application processing
Delegate mortgage application processing
to an expert loan origination agent
to an expert loan origination agent
Automated Data Extraction
Accurately capture all data points from mortgage application forms and supporting documents eliminating manual data entry.
Income & Asset Verification
Automatically read pay stubs and bank statements then cross-reference the data with the application to flag discrepancies.
More agents
Next steps
Close more loans faster.
Let's talk
You’ll hear back in less than 24 hours
Next steps
Close more loans faster.
Let's talk
Next steps
Close more loans faster.
Let's talk
You’ll hear back in less than 24 hours
FAQ
FAQ
FAQ
Have questions?
Find answers.
What documents can the agent process?
The agent can process the entire mortgage application package including the Uniform Residential Loan Application (Form 1003) bank statements pay stubs W-2s tax returns and property appraisals.
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What documents can the agent process?
The agent can process the entire mortgage application package including the Uniform Residential Loan Application (Form 1003) bank statements pay stubs W-2s tax returns and property appraisals.
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What documents can the agent process?
The agent can process the entire mortgage application package including the Uniform Residential Loan Application (Form 1003) bank statements pay stubs W-2s tax returns and property appraisals.
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How does the agent validate income information?
It extracts income data from pay stubs and tax returns and compares it to the stated income on the application. The workflow can also perform calculations like year-to-date income averaging.
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How does the agent validate income information?
It extracts income data from pay stubs and tax returns and compares it to the stated income on the application. The workflow can also perform calculations like year-to-date income averaging.
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How does the agent validate income information?
It extracts income data from pay stubs and tax returns and compares it to the stated income on the application. The workflow can also perform calculations like year-to-date income averaging.
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Can it handle different bank statement and pay stub formats?
Yes. The AI is designed to read and understand documents from any financial institution or employer regardless of their specific layout. It identifies the key data points contextually.
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Can it handle different bank statement and pay stub formats?
Yes. The AI is designed to read and understand documents from any financial institution or employer regardless of their specific layout. It identifies the key data points contextually.
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Can it handle different bank statement and pay stub formats?
Yes. The AI is designed to read and understand documents from any financial institution or employer regardless of their specific layout. It identifies the key data points contextually.
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Does the agent approve the loan?
No. The agent automates the data processing and verification steps. The final credit decision is still made by a qualified human underwriter based on the clean validated data the agent provides.
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Does the agent approve the loan?
No. The agent automates the data processing and verification steps. The final credit decision is still made by a qualified human underwriter based on the clean validated data the agent provides.
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Does the agent approve the loan?
No. The agent automates the data processing and verification steps. The final credit decision is still made by a qualified human underwriter based on the clean validated data the agent provides.
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How does this help with compliance?
The agent's workflow can be configured to check for the presence and accuracy of required regulatory disclosures. It creates a complete auditable record of the data verification process for every loan file.
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How does this help with compliance?
The agent's workflow can be configured to check for the presence and accuracy of required regulatory disclosures. It creates a complete auditable record of the data verification process for every loan file.
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How does this help with compliance?
The agent's workflow can be configured to check for the presence and accuracy of required regulatory disclosures. It creates a complete auditable record of the data verification process for every loan file.
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How does this integrate with our Loan Origination System (LOS)?
The agent is designed to integrate with major LOS platforms like Encompass and Calyx Point via API. It can ingest documents from the LOS and push the validated structured data back into the system of record.
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How does this integrate with our Loan Origination System (LOS)?
The agent is designed to integrate with major LOS platforms like Encompass and Calyx Point via API. It can ingest documents from the LOS and push the validated structured data back into the system of record.
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How does this integrate with our Loan Origination System (LOS)?
The agent is designed to integrate with major LOS platforms like Encompass and Calyx Point via API. It can ingest documents from the LOS and push the validated structured data back into the system of record.
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