Document to Data Extraction Service Overview
NetExtract is an industry-first technology that provides the next level of automation for any business that wants to reduce labor intensive document to text conversions. This remarkable OCR technology is delivered as a Cloud-based service and requires no hardware purchases, software installations, network setup, or ongoing system upgrades and patches from the customer’s perspectives. Current NetDirector clients can leverage their existing connection to ramp onto this service quickly.
NetExtract processes incoming images (i.e.: Mortgages, Deeds, etc.) to extract data from them directly and transfer the information into your database with the highest level of accuracy available on the market today. Initial applications offered for Legal Description and Referral extractions and clients can now download and extract data from Bank of America MFR Referrals.
NetExtract for Referrals
Some mortgage loan servicers still send foreclosure and bankruptcy files via email, fax, and mail. This requires the default attorney/trustee to manually key the file data into their CMS. This process is very labor intensive and prone to data mishaps. With NetExtract – customers can auto-route these referrals to a centralized email address or send as document request for data extraction. NetExtract will extract all required file data elements and send a formatted data file for auto import into customer’s CMS. This seamless process would mirror the current NetDirector referral intake process.
NetExtract for Legal Descriptions
- Extract the Legal Blocks
- Format the blocks, including removing line-breaks and changing CASE
- Replacements – Ability to change symbol coordinates to words, feet/foot symbol conversion with plural, inch /inches symbol conversion with plural, quotes removal, etc
- Intellispell feature included to increase accuracy
- Other extraction services available for other fields, Lot, Block, Page, etc
- Data Response is returned within minutes
- Legal Descriptions cannot be imbedded in other paragraphs
NetExtract Plus! for Legal Descriptions
- Same as Basic extraction but with full 100% audit
- 100% of legal’s extracted and verified from any document
- Quick turnaround ( same day )
- U.S. based audit resources ( same day )
Legal Description Process Flow
- Auto Routing – NetDirector can initiate auto routing from incoming documents (i.e.: Deed, Mortgage) – reduces programming (no document upload required)
- Most Accurate OCR engine – reaching 90 – 100% accuracy
- Spell Check – Intelligently corrects misspelled words and OCR errors with advanced pattern matching and replacement techniques.
- Multi-Format – Handles TIF, BMP, and PDF images
The NetExtract Cloud-based Pricing Model is based on a per extraction/use pricing. For more details on pricing and delivery options, please contact a NetDirector representative at (813) 343-0971 or email@example.com.