Closing Disclosure - Document Skill

Extract data from mortgage Closing Disclosure forms — loan terms, interest rate, closing costs, monthly payments, fees, and totals — for US mortgage workflows.

The Closing Disclosure skill extracts data from mortgage Closing Disclosure forms — the five-page reports lenders provide at least three days before mortgage documents are signed, covering loan terms and size, interest rate, loan fees, closing costs, monthly payments, and the total of all payments and financing fees.

The Closing Disclosure 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 closing disclosures. For production use, you may need to uptrain the skill with your own document samples. 

Countries and Languages

Countries	Languages
USA	English

Extracted Fields

Closing Information

Field	Description
Date Issued	The date the document was issued.
Closing Date	The date the document was closed.
Disbursement Date	The date the loan is funded.
Settlement Agent	The settlement agent.
File Number	The file number assigned to the transaction by the settlement agent.
Property Street	The address of the financed property.
Property City	The address of the financed property.
Property State	The address of the financed property.
Property ZIP Code	The address of the financed property.
Appraised Property Value	The appraised value of the financed property.

Transaction Information

Field	Description
Borrower Name 1	The name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower Name 2	The name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower Street	The name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower City	The name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower State	The name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Borrower ZIP Code	The name and address of the borrower. The Borrower Name 2 field is extracted only when there are two borrowers.
Seller Name 1	The name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller Name 2	The name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller Street	The name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller City	The name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller State	The name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Seller ZIP Code	The name and address of the seller. The Seller Name 2 field is extracted only when there are two sellers.
Lender	The name of the lending organization.

Loan Information

Field	Description
Loan Term	The loan term.
Purpose	The purpose of the loan (such as purchase, construction, refinance).
Product	The payment type (such as linear, diminishing balance).
Loan Type	The loan type: Conventional, FHA, VA, Other.
Loan ID	The loan identifier.

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.

Projected Payments (Repeating Group)

Field	Description
Payment Calculation Period	The calculation period, during which the monthly payment remains the same.
Principal & Interest Min	The minimum monthly mortgage payment size (both principal and interest). This field is extracted only if both a minimum and a maximum value are detected on the document.
Principal & Interest Max	The maximum monthly mortgage payment size (both principal and interest). This field is extracted by default if there is only one monthly payment value detected.
Mortgage Insurance	The monthly mortgage insurance payment size.
Estimated Escrow	The estimated monthly escrow payment size.
Estimated Total Monthly Payment Min	The total estimated minimum monthly payment size (Principal & Interest Min + Mortgage Insurance + Estimated Escrow). This field is extracted only if both a minimum and a maximum value are detected on the document.
Estimated Total Monthly Payment Max	The total estimated maximum monthly payment size (Principal & Interest Max + Mortgage Insurance + Estimated Escrow). This field is extracted by default if there is only one monthly payment value detected.
Estimated Taxes Insurance & Assessments	The estimated tax and insurance charges.

Costs at Closing

Field	Description
Closing Costs	The estimated closing charges.
Cash to Close	The total estimated amount required to close the deal – including the down payment, the deposit, and other charges.

If the field containing the amount value also contains a currency symbol, it is also included in the extracted value.

Key Fields

• Date Issued
• Closing Date
• File Number
• Loan ID
• Loan Amount