OCR Software and Solution for Mortgage & Bank Industry


1. DIM for Mortgage Banker


Mortgage businesses produce a large volume of paper documents and mortgage files, which have legal nature and need to be processed, kept and managed in the whole life cycle of a loan. Many users, both inside and outside of the company, have to collaborate their work on these documents. A DIM system would resolve all these issues.


ExperVision’s DIM solution is a web-based business platform to support loan processing including loan origination, application, approval, closing, second closing and even servicing. The IT functions of the DIM system includes high-speed image scanning, document recognition, classification, storing, retrieving, mortgage loan package generation and other image operations. The system supports advanced collaboration functions among brokers, loan officers, loan processors, underwriter, closer, second closer, etc.

The system consists of the following modules:

  • Scanning Station: Supports all TWAIN/ISIS compatible scanners with high-end features to convert paper documents into electronic image files. Cover page can be generated with encoded barcode for document categorization.
  • Imaging Monitor: Retrieve information from cover page by decoding barcode to categorize the scanned documents.
  • DIM/DOC Server: All the captured images are uploaded to a directory structure Image Server, pre-defined to include mortgage doc categories in a way similar to how the documents are kept in the paper folders in the client’s office.
  • Labeling Station: The brokers, loan officers, loan processors, closers, etc, can work on the station to manually process the PDF file in Document Server and to produce a profile for each document, including file category, type, ID, a text summary and some keywords for indexing purposes.
  • Web Server and Interface: A Web Server is built in the system to connect with the DIM/DOC Server and database in the back office, for brokers or underwriters to inquiry and execute instructions through the web interface, when they are working in the branch offices or some sites outside the bank’s offices. With this module, users’ collaboration is made possible during a loan’s life cycle.
  • Doc Access Control: Support access control, which can be customized by the client to ensure the loan or case information can be and only be accessible by the right users.
  • Export: Support DU/LP format document exportation to Fannie Mae/Freddie Mac for secondary marketing. Also support standard document or loan package exportation for convenient transfer.
    • Benefits

      • Support the core business functions of the Mortgage banker and allow the staff to collaborate their work,
      • Improve productivity, reduce operational cost and increase reliability.

      2. Mortgage Process Collaboration

      Mortgage processing has been a pretty matured industry in the US and every large bank already has an integrated workflow supported by IT system. But SME mortgage banks are still facing pressure of cost reduction and revenue generation with no proper IT support. The challenge is not only to integrate every single step like loan origination, appraisal, risk analysis & approval, underwriting, closing, servicing as well as 2nd closing and 3rd party program processing into a whole, but also to broaden business channels under the help of available specialists in the market such as agent, underwriter, appraiser, title etc. Every SME has its unique business model and particular workflow, and hence needs IT consulting service in designing and developing such software for its business needs. ExperVision® has developed a mortgage process collaboration system (MPCS), which can be customized for any SME mortgage bank, helping them greatly boost business efficiency and scope with little investment.

      3. Mortgage BPO


      • Faster sale of loans due to overall decrease in processing time
      • New process with >99% accuracy
      • 60-80% decrease in shipping, off-site storage & retrieval costs. Improved efficiency in downstream document usage departments (wholesale & retail branches, shipping, purchase clearing, post closing).

      Pre and Post Underwriting

      • Ability to move loans to Underwriting and Closing more rapidly
      • High accuracy (>99%)
      • 50% reduction in resource labor costs

      Insurance Data Entry and EDI Data Validation

      • Faster sale of loans increasing early delivery premiums Improved velocity: Now 24 hours versus 5 days previously Improved First-Time Fundable (FTF) Ratio
      • Improved accuracy (98%); Improved investor relations based on high quality files enabled major investor to pursue government EDI delivery
      • 50% reduction in resource costs. Reduction in future auditing costs based on high quality files,  50-60% decrease in assets building (unshipped assets), despite a 30% increase in funded loans

      Purchase Advice Analysis & Data Entry

      • Identification of investor underpayments
      • Improved accuracy (>99%). Faster warehouse line of credit reconciliation. Improved timeliness in PMI premium payments and transfers
      • 50% reduction in resource labor costs.  Reduction in overtime. Improved efficiency in down-stream purchase clearing activities

      Retrieval of Final HUD-1’s, Deeds of Trust, Title Policies, and other Trailing Documents

      • Faster sale of loans increased early delivery premiums. Improved First-Time Fundable (FTF) Ratio (Final HUD-1’s) 60% initial capture rate versus pre-migration capture rate of 10%
      • Improved velocity: Reduction in outstanding aged documents by 90%. Improved perception by investors results in better bargaining position
      • Avoided penalties and fines from investors for missing documents, a 50% reduction in resource costs. Reduced risk (lien position). Elimination of fees for duplicating aged docs: $75-$300 per loan

      Borrower SSN Verification Policy Compliance Audits Underwritten Loan Review

      • Improved accuracy (>98%). Improved investor relations based on high quality files
      • 50% reduction in resource labor costs. Reduced risk and reduction in repurchased loans.

      Loan Closings

      • Improved velocity: Faster time-to-closing & funding
      • Improved accuracy (>98%)
      • Reduction in closing overtime costs of up to $50 per loan during peak end-of-month. 50% reduction in resource labor costs
      • 4. Invoice & Shipping Receipt Processing

        A company receives a large amount of invoices from various third parties including vendors, daily service providers, contract engineering providers, etc. These invoices need timely processing and many departments are involved in the verification and approval process. Statistics show that, 96% of the invoices are on paper and have to be processed manually, which makes the cost as high as $10.15 per invoice. With manual processing, mistakes such as incorrect calculation, duplicate payments, inability to deliver to the right department and even the loss of some invoices can occur.

        ExperVision® ‘s invoice and receipt processing system completes the process from invoice scanning, recognition, storing, passing to various departments for verification and approval, to archiving for analysis and other purposes. The invoice recognition module employs ExperVision® ‘s world champion OCR to process data such as vendor information, product items and prices, account number, amount, date, etc.

        5. Resume Processing

        Although electronic resumes have been more and more popular since the late 90s, massive paper materials, e.g. fax, letters and post, are still used and mixed with electronic ones in both job application and human resource (HR) management. To guarantee not missing any qualified candidate, it takes a significant amount of time and effort to include the information on paper in the human resource software system. ExperVision® ‘s Resume Processing Solution (RPS) is a suite of intelligent and enterprise level resume capturing & processing tools, which can automatically process resumes from any e-mail & attachment, job board, corporate web site, fax and paper, enabling the HR department to efficiently attract and hire qualified job applicants. The Resume Recognition module in the system employs ExperVision® ‘s world champion OCR to process data such as contact, location, skills summary, education history, work experience, etc.

        6. Paper Based Workflow Management

        In many industries, the company sends their staff outside of the office to provide complicated services, including on-site measurement, customized design, material preparation, on-site installation, maintenance and/or other activities. The traditional way to manage out-of-office activities is to use paper work-orders and worksheets, which leads to many problems such as difficult to track the workflow information, misreading information on paper, and unable to quickly search and index wanted information on worksheets. These problems generally degrade workflow efficiency, waste resources and destroy customer satisfaction. ExperVision® ‘s Paper Based Workflow Management system provides whole workflow management by including the traditional paper work-order and worksheet in the control loop, while allowing the staff to work exactly the way they were working before.