Loan Estimate - Document Skill - ABBYY Documentation

The Loan Estimate skill extracts data from Loan Estimate forms — the disclosures lenders provide to potential borrowers under the TILA-RESPA Integrated Disclosure (TRID) rule, covering loan terms and a detailed list of charges required to close the deal. The Loan Estimate skill is a preview skill. It has been trained on a limited set of documents and is designed to help you quickly get started with processing loan estimates. For production use, you may need to uptrain the skill with your own document samples.

Countries and Languages

Countries	Languages
USA	English

Extracted Fields

Basic Information

Field	Description
Date Issued	Date of signing.
Applicant 1	The borrower’s name.
Applicant 2 (optional)	The co-borrower’s name (optional field).
Sale Price	The sale price of the financed property.
Loan Term	The term of the loan.
Purpose	The purpose of the loan (purchase, construction, refinancing, etc.).
Product	The payment type.
Loan Type	The loan type.
Loan ID	The loan identifier.
Rate Lock	Specifies whether the interest rate is locked.

Applicant Address

Field	Description
Street	The borrower’s address.
City	The borrower’s address.
State	The borrower’s address.
ZIP Code	The borrower’s address.

Property Address

Field	Description
Street	The address of the financed property.
City	The address of the financed property.
State	The address of the financed property.
ZIP Code	The address of the financed property.

Loan Terms

Field	Description
Loan Amount	The total amount of the loan.
Loan Amount Can Increase	Specifies whether the loan amount can be increased after registration.
Interest Rate	The interest rate.
Interest Rate Can Increase	Specifies whether the interest rate can be increased after registration.
Monthly Principal & Interest	The monthly payment (both principal and interest).
Monthly Principal & Interest Can Increase	Specifies whether the monthly payments can be increased after registration.
Prepayment Penalty	Specifies whether there are any prepayment penalties.
Balloon Payment	Specifies whether the loan is a balloon payment mortgage.

Payment Calculation

Field	Description
Years	The period during which the monthly payment size is locked.
Principal & Interest	The monthly mortgage payment size (both principal and interest).
Mortgage Insurance	The monthly insurance fee.
Estimated Escrow	The estimated escrow fee.
Estimated Total Monthly Payment	The estimated total monthly payment (Principal & Interest + Mortgage Insurance + Estimated Escrow).

Taxes and Insurance

Field	Description
Estimated Taxes Insurance & Assessments	The estimated tax and insurance charges.
Property Taxes	The property tax.
Homeowner’s Insurance Taxes	The homeowner’s insurance tax.
Other	Other payments.

Closing Costs

Field	Description
Estimated Closing Costs	The estimated closing charges.
Estimated Cash to Close	The total estimated amount required to close the deal – including the down payment, the deposit, and other charges (the sum of all fields in the Calculating Cash to Close group).

Loan Costs

Section A - Origination Charges

Field	Description
Section A - Origination Charges - Total	Section A: Registration fees.
Section A - % of Loan Amount (Points)	Section A: Registration fees.
Section A - Underwriting Fee	Section A: Registration fees.

Section B - Services You Cannot Shop for

Field	Description
Section B - Services You Cannot Shop for - Total	Section B: Fees charged by third parties selected exclusively by the lender.
Section B - Appraisal Fee	Section B: Fees charged by third parties selected exclusively by the lender.
Section B - Credit Report Fee	Section B: Fees charged by third parties selected exclusively by the lender.

Section C and D

Field	Description
Section C - Services You Can Shop for	Section C: Fees charged by third parties that can be selected by the borrower.
Section D - Total Loan Costs (A+B+C)	The total combined fees for sections A, B, and C.

Other Costs

Field	Description
Section E - Taxes and Other Government Fees - Total	Other fees (taxes, insurance charges, etc.).
Section E - Recording Fees and Other Taxes	Other fees (taxes, insurance charges, etc.).
Section E - Transfer Taxes	Other fees (taxes, insurance charges, etc.).
Section F - Prepaids - Total	Other fees (taxes, insurance charges, etc.).
Section F - Homeowner’s Insurance Premium	Other fees (taxes, insurance charges, etc.).
Section F - Mortgage Insurance Premium	Other fees (taxes, insurance charges, etc.).
Section F - Prepaid Interest	Other fees (taxes, insurance charges, etc.).
Section F - Property Taxes	Other fees (taxes, insurance charges, etc.).
Section G - Initial Escrow Payment at Closing - Total	Other fees (taxes, insurance charges, etc.).
Section G - Homeowner’s Insurance	Other fees (taxes, insurance charges, etc.).
Section G - Mortgage Insurance	Other fees (taxes, insurance charges, etc.).
Section G - Property Tax	Other fees (taxes, insurance charges, etc.).
Section H - Other - Total	Other fees (taxes, insurance charges, etc.).
Section I - Total Other Costs (E+F+G+H)	Other fees (taxes, insurance charges, etc.).
Section J - Total Closing Costs - Total	Other fees (taxes, insurance charges, etc.).
Section J - D+I	Other fees (taxes, insurance charges, etc.).
Section J - Lender Credits	Other fees (taxes, insurance charges, etc.).

Calculating Cash to Close

Field	Description
Total Closing Costs (J)	A detailed list of closing fees.
Estimated Closing Costs Financed	A detailed list of closing fees.
Down Payment or Funds from Borrower	A detailed list of closing fees.
Deposit	A detailed list of closing fees.
Funds for Borrower	A detailed list of closing fees.
Seller Credits	A detailed list of closing fees.
Adjustments and Other Credits	A detailed list of closing fees.
Estimated Cash to Close	The estimated total closing fee.

Additional Information

Field	Description
Loan Officer	The name of the lender’s loan officer.

Comparisons

Field	Description
In 5 Years - Total	The total amount that is estimated to be paid after 5 years (including interest, insurance, and other monthly fees).
In 5 Years - Principal	The total amount that is estimated to be paid towards the original loan amount (i.e., excluding interest payments).
Annual Percentage Rate (APR)	The total annual amount of interest paid – interest payments, taxes, and other fees (i.e., excluding principal payments).
Total Interest Percentage (TIP)	The total amount of interest estimated to be paid by the borrower over the term of the loan.

Key Fields

Date Issued
Applicant 1
Loan ID
Loan Amount

​Countries and Languages

​Extracted Fields

​Basic Information

​Applicant Address

​Property Address

​Loan Terms

​Payment Calculation

​Taxes and Insurance

​Closing Costs

​Loan Costs

​Section A - Origination Charges

​Section B - Services You Cannot Shop for

​Section C and D

​Other Costs

​Calculating Cash to Close

​Additional Information

​Comparisons

​Key Fields