> ## Documentation Index
> Fetch the complete documentation index at: https://docs.abbyy.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Mortgage Note - Document Skill (Preview)

> Extract data from Mortgage Note documents — loan terms, monthly payments, interest rate, and late-payment penalties — signed at US mortgage closing.

<span style={{ color:"red" }}>
  The Mortgage Note skill is currently available in Preview.
</span>

The **Mortgage Note** skill extracts data from Mortgage Note documents — the legal documents signed at mortgage closing that capture the loan terms, monthly payment amount, interest rate, late-payment penalties, and other details.

The Mortgage Note 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 mortgage notes.

<Warning>
  The Mortgage Note skill cannot be trained on additional documents.
</Warning>

The Mortgage Note skill recognizes handwritten text. This option is enabled by default. If you do not import handwritten forms, disable the **Handwritten** option in the skill settings.

## Countries and Languages

| Countries | Languages |
| :-------- | :-------- |
| USA       | English   |

## Extracted Fields

### Borrower's Information

| Field     | Description                                                                                                                                    |
| :-------- | :--------------------------------------------------------------------------------------------------------------------------------------------- |
| Name      | The legal name of the individual(s) or entity borrowing the money. All borrowers are typically held equally responsible for repaying the loan. |
| Signature | The signature of the borrower(s).                                                                                                              |

### Mortgage Information

| Field                                               | Description                                                                                                                                                                                                                        |
| :-------------------------------------------------- | :--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Principal                                           | The initial sum of money borrowed from the lender.                                                                                                                                                                                 |
| Yearly Interest Rate                                | The annual percentage rate (APR) charged on the loan. It is the cost of borrowing the money, expressed as a percentage. This rate can be fixed for the life of the loan or adjustable, depending on the type of mortgage.          |
| Change Date of Interest Date                        | This field is relevant for adjustable-rate mortgages (ARMs). It specifies the date when the initial fixed interest rate is scheduled to change to a variable rate.                                                                 |
| Period of Possible Interest Rate Change (in months) | For ARMs, this field indicates how often the interest rate will adjust after the initial fixed-rate period. For example, a 5/1 ARM has a fixed rate for five years, and then the rate can adjust annually (every 12 months).       |
| Starting Date of Monthly Payment                    | The date on which the first monthly mortgage payment is due.                                                                                                                                                                       |
| All Pages Are Present                               | Indicates whether all numbered pages are present in the document. For example, all five pages of a 5-page document are deemed to be present if the document contains pages numbered as 1 of 5, 2 of 5, 3 of 5, 4 of 5, and 5 of 5. |

## Key Fields

* Borrower info/Name
* Starting Date of Monthly Payments

## Validation Rules

| Rule                                          | Description                                                                                                                                                                                                                              |
| :-------------------------------------------- | :--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Rule To Copy Borrower Name                    | If the **Borrower Info/Name** field is blank, Vantage copies the name from the **AuxPerSignature** field to the **Borrower Info/Name** field if certain conditions are met.                                                              |
| Clean Period of Possible Interest Rate Change | Checks if the **Period of Possible Interest Rate Change (in months)** field has a value, and if it does, it removes any "th" characters from that value. For example, if the field's value was "12th," the rule would change it to "12." |