Escrow Account Disclosure Statement
An Escrow Account Disclosure Statement is a review and recalculation of the escrow account based on actual amounts paid into the escrow account and disbursed from the escrow account.
The Escrow Account Disclosure Statement is a Framework Document Skill that has been trained on a smaller set of documents. Approximately 40 data fields are defined and labeled.
Customers can use this Framework skill as a starting point for further training based on incoming reports, add new or adjust the extracted fields and business rules to their own requirements.
Benefits
- Escrow Account Disclosure Statement skill model automatically detects key fields and extracts relevant data (Loan Number, Disclosure Date, Property Address, Borrower Name/Address, Co-Borrower Name/ Address, etc.). For a full list of extracted fields, please see the skill documentation.
- Includes rules for required fields. Additional business rules can be added as required for example to set a minimum threshold of earnings, or to check that the document has not been issued prior to a certain date.
- Can be augmented by human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.
- Allows further training of the model based on customer documents in real time in order to ensure sufficient accuracy levels on customer-specific documents. Over time significantly improves straight-through-processing rates and reduces the need for human interaction.
- Key fields: Loan Number, Disclosure Date, Property Address, Borrower Name/Address, Co-Borrower Name/ Address, Servicer Name, Servicer Address, Servicer Phone Number
Documentation
Contributor: ABBYY
| Name | Version | Date |
|---|---|---|
| Escrow Account Disclosure Statement | 13.0 | 15.05.2023 |
| Updated model | ||
| Escrow Account Disclosure Statement | 10.0 | 07.12.2022 |
| Upgraded technology core to v2.0. | ||