Document collection and validation

Step-by-Step Breakdown

Detailed explanation of each automated stage in the workflow.

1. 1

   Trigger

   Receive loan application submission

   Borrower completes and submits mortgage application with initial documents through digital portal. System captures application data and attached documentation.

   SimpleNexusLendingQB
2. 2

   Action

   Extract and categorize documents

   AI automatically reads uploaded documents, extracts key data points, and categorizes them by type (W-2s, pay stubs, bank statements, etc.). OCR technology processes scanned documents for data extraction.

   Encompass by ICE Mortgage TechnologyBytePro
3. 3

   Action

   Validate document authenticity

   System performs automated verification checks including format validation, mathematical calculations, and cross-references data against third-party sources. Flags potential fraud indicators or inconsistencies.

   Encompass by ICE Mortgage TechnologyBytePro
4. 4

   Decision

   Assess document completeness

   AI evaluates whether all required documents are present and valid based on loan type and regulatory requirements. Routes complete applications forward or incomplete ones to deficiency workflow.

   LendingQBMortgage Builder
5. 5

   Action

   Generate deficiency notification

   For incomplete applications, system automatically creates detailed deficiency letter specifying missing or invalid documents and sends to borrower via preferred communication channel.

   SimpleNexusCalyx Point
6. 6

   Action

   Update loan file status

   System updates loan origination system with validation results, document status, and any identified issues. Creates audit trail for compliance purposes.

   Encompass by ICE Mortgage TechnologyLendingQB
7. 7

   Output

   Route to underwriting queue

   Validated and complete loan files are automatically forwarded to underwriting with all documents organized, indexed, and compliance-checked for immediate review.

   Encompass by ICE Mortgage TechnologyMortgage Builder

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