ACES Risk Management (ARMCO)
has announced the release of ACES Automated Document Manager (ADM). Available through ARMCO’s ACES Audit Technology and as a stand-alone product, ADM uses robust OCR (optical character recognition) technology to not only automatically identify, bookmark and organize loan documents, but also alert users of any missing documents associated with loan files—core activities for decreasing the risk of gross defects.
ADM can parse hundreds of PDF files, identify each document in the file, and categorize them by document type or name. Users simply place the loan document files into a secure folder and ADM automatically organizes, names, and identifies the documents. ADM does in moments what can take upwards of an hour per loan file with manual processes.
“Typical loan files can contain 500+ PDFs or imaged document pages—sorting through those can be time consuming and error-prone,” said Phil McCall, President of ARMCO. “At ARMCO, we’re not just focused on elevating loan quality. We want to give the industry’s businesses the tools to cut costs, reduce turn times and gain efficiency. ARMCO’s new Automated Document Manager will be a huge time-saver, especially for large volume lenders and outsourced QC providers.”