Free up your back-office by automating IRS Form 1040 Schedule B (2020) processing
Ocrolus’ intelligent document processing technology helps you automate the underwriting process by automating IRS Form 1040 Schedule B (2020) processing.
Why should lenders use Ocrolus for IRS Form 1040 Schedule B (2020) data capture and form processing?
Loan underwriters process 1040 Schedule Bs to verify income. IRS Form 1040 Schedule B (2020) reports over $1,500 of taxable interest or ordinary dividends, interest from a seller-financed mortgage when the buyer used the property as a personal residence, and/or accrued interest from a bond.
Ocrolus’ end-to-end automated IRS Form 1040 Schedule B processing solution provides a better borrower experience by speeding up the entire underwriting process and empowering lenders to make smarter decisions with trusted, accurate data.
Advantages of Ocrolus’ automated IRS Form 1040 Schedule B (2020) processing
Retrieve data from 1040 Schedule Bs regardless of format or image quality
- Verify borrower income in minutes
- Develop robust, data-driven income assessments
- Increase originations with an expedited underwriting process
Ocrolus’ 2021 document processing stats
financial pages analyzed
documents flagged for suspicious activity
business loan applications analyzed