Mortgage data extraction is the go-to business move for real estate agents and brokers, mortgage lenders, appraisers, and inspectors with loan services alike. By automating the extraction of critical information from mortgage documents, such as applicant details, property information, and financial data, the mortgage application process becomes faster and more efficient. This leads to reduced processing times and quicker approvals, enhancing the overall customer experience. Furthermore, automation minimizes the risk of errors in data entry, ensuring greater accuracy and compliance with regulations.

The platform supports common file types, including PDF, DOCX, XLSX, PNG, JPG, TIFF, and emails. After data extraction, data appears in a file, ready to be downloaded as CSV or XLSX or safely imported into the internal processing system of your choice through API or Zapier.

The data you can get from mortgage paperwork depends on its contents. The mortgage deed establishes a legal interest in the property as security for the mortgage loan. The mortgage agreement outlines the terms and conditions of the loan. The mortgage gift letter is used to confirm that a financial gift provided by a third party will not be repaid and can be used as part of the borrower’s funds for the mortgage transaction. Some common data elements include the loan amount, property information, names and contact information of parties involved (loaner and borrower), signatures, source of funds, etc. However, you can adjust Alphamoon to get all the data that is relevant to your process. You can achieve this by configuring the information you wish to obtain.