Tabex mortgage processing PDF API

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Mortgage Processing  PDF API The trends in digital and mobile banking initiatives are turning  consumers to increasingly expect that banking operations, including mortgage processing, take place over the Web quickly with almost no or negligible waiting time. Additionally to better respond to real-time mortgage-based opportunities opportunities banks, insures and processors increasingly require automated mortgage processing solutions.

The mortgage industry companies are evolving in the direction of mortgage automation, with an expectation that all related processes, from classification and data extraction to valuation and underwriting, can all be accomplished in near real-time.

There are at least 4 players in this industry:

  1. The loan originator banks
  2. The loan processors
  3. The insurances
  4. The investment banks reselling the mortgage as a mortgage based security in the capital markets.

These list does not include emerging technology companies in the field of lending. Different companies have a need to process both completely digital applications and paper based application. This requires that time and accuracy between various processing approaches are generally consistent. Specifically, mortgage processing turnaround time and data accuracy should be relatively invariant to the different  input sources, e.g., a paper-based loan packet versus a digitally-generated loan packet submitted online.

Additionally companies like insurances and processor have a need for a degree of document intelligence and making a decision on the loan with an amount of time that does not result in a missed opportunity.

The challenge is that  understanding the hundreds of different types of mortgage-related documents for the purpose of classification, document assembly and stacking, data extraction, analysis and underwriting is complex. This process requires a specialized  worker with an extensive knowledge of the mortgage industry. The tasks involved in the mortgage processing  cannot be effectively crowd-sourced and often companies turn to outsourcing the task abroad .

Outsourcing Mortgage processing  is difficult to scale quickly as the outsourced workers must have substantial skills in mortgage processing and are not easy to be sourced. A machine-based, cloud automated mortgage processing platform is readily scalable.

Processing  a paper-based loan usually requires 10x-20x the resources required for a fully electronic loan submitted online. By leveraging  a Cloud-based mortgage automation processing, the turnaround time and accuracy become dependent on algorithms and the machine resources allocated to this process in the cloud.

This is where Tabex mortgage processing PDF API can help in the process of extracting data from mortgage applications in paper format or in PDF format. Tabex PDF API is able to recognize the bordered or borderless tabular structures within the pdf or scanned documents and return a curated digitalized information in machine readable format.

Particularly Tabex mortgage processing PDF API can extract data from pdf to xml format and integrate in your application data flow. For processes requiring simpler formats Tabex PDF API allow the conversion of PDF to CSV , while for the purpose of pushing the same data to internal webs Tabex PDF API precisely scrapes pdf to HTML and HTML5 format.

Tabex mortgage processing PDF API is a cloud based mortgage processing solution for the providers of automated mortgage processing software. It eliminates the need to develop specific solutions around PDF and help your company deliver a full automated mortgage processing solution that balancse both paper processing and digital paper processing.

This post is also available in: Italian, Spanish

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Showing 2 comments
  • loans Las Vegas

    It is a awesome review ! Very well-written and useful .

    I will keep checking your site more often than in the past.
    And I assume I will find here more wonderful articles
    to read.

  • Tabex Editor

    Thank you for following our posts on the Tabex PDF API and its applications to automated mortgage processing. Tabex API can extract data from pdf to xml, excel, csv, html, txt and more.

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