Lender Toolkit Unveils Enhanced AI Underwriter with Ocrolus Integration for Unmatched Speed, Accuracy, and Scalability

SALT LAKE CITY, Feb. 4, 2025 /PRNewswire/ -- In today's competitive mortgage industry, lenders constantly seek innovative tools to streamline operations and deliver superior borrower experiences. Lender Toolkit continues to lead the charge with its solutions that redefine how lenders process and underwrite mortgage applications. Combining speed, accuracy, scalability, and cost-savings, Lender Toolkit's products ensure consistency in decision-making while enhancing the overall borrower journey.

Today, Lender Toolkit is thrilled to announce an exciting partnership with Ocrolus and the integration of Ocrolus' advanced document analysis technology into its product line. This powerful enhancement addresses a critical need in the mortgage underwriting process—the ability to efficiently handle unstructured data from electronic, scanned or physical documents.

Traditionally, Lender Toolkit's products have relied on structured digital data from integrations with Encompass^® by ICE Mortgage Technology^® and other automated verification services. While this approach excels in leveraging machine-readable formats, the need for Ocrolus arose as lenders increasingly requested the ability to analyze a wide variety of document types, such as bank statements, pay stubs, and tax forms. AI Underwriter now bridges the gap with its Ocrolus integration, converting text from unstructured formats into machine-readable data, enabling seamless automation across all data sources.

Thanks to the new partnership with industry leader Ocrolus, who serves over 300 lending customers, Lender Toolkit's AI Underwriter takes a significant leap forward in efficiency and accuracy. This upgrade allows lenders to:

• Extract Data from Unstructured Documents: Automatically process scanned documents and images, eliminating the need for manual data entry.
  
  
• Improve Underwriting Accuracy: High-precision Optical Character Recognition as well as AI and ML models to ensure reliable data capture, eliminating the need for manual document review.
  
  
• Enhance Workflow Speed: Faster document analysis and automated verification that results in quicker loan application response times.
  
  
• Increase Scalability: Handle large volumes of diverse document types directly within Encompass, simplifying complex lending scenarios and reducing errors or missed information.

"Our partnership with Ocrolus is a game-changer for Lender Toolkit and our clients," said Brett Brumley at Lender Toolkit. "It allows us to not only process structured data but also tackle the complexity of unstructured documents, giving lenders unmatched efficiency and scalability in their operations."

"Partnering with Lender Toolkit marks an exciting advancement in transforming mortgage workflows. Their innovative approach to empowering lenders aligns seamlessly with Ocrolus' mission to drive smarter, faster lending decisions through advanced document automation." said Vik Dua, Chief Operating Officer at Ocrolus. Together, we're enabling more efficient, accurate underwriting processes that deliver better results for lenders and a superior experience for borrowers."

With this enhancement, Lender Toolkit cements its position as a leading provider of advanced solutions for modern lenders, offering a groundbreaking tool that simplifies processes, reduces manual workloads, and delivers unparalleled accuracy in mortgage underwriting.

About Lender Toolkit 
Lender Toolkit™ leading platform Mortgage Automation as a Service (MaaS™) is powered by artificial intelligence (AI) and offers innovative and comprehensive solutions that streamline the mortgage origination process for mortgage lenders. The company's software plug-ins, add-ons and programs can be integrated and run in tandem with the mortgage industry's leading loan originations systems (LOS) where tasks that have traditionally been performed manually can be automated and customized. With Lender Toolkit's trademark pending Responsible Mortgage AI, the company is quickly bringing mortgage lending into the future. For more information, visit www.lendertoolkit.com.

About Ocrolus

Ocrolus is a document AI platform that enables financial institutions to make faster, more accurate decisions. The company analyzes documents with over 99% accuracy, regardless of format or quality, supporting a wide variety of document types including bank statements, pay stubs and tax forms. Ocrolus provides over 500 customers with a trusted solution to classify documents, analyze cash flows and income and detect fraud. To learn more, visit Ocrolus.com.

SOURCE Lender Toolkit