DETROIT— Rocket Close said it has cut mortgage document processing times from hours to minutes after deploying a generative artificial intelligence system developed with Amazon Web Services.
The company, which processes roughly 2,000 abstract document packages each day, previously relied on manual workflows that could take up to 10 hours per package as volumes increased, HousingWire reported. Each package averages about 75 pages and includes detailed legal and financial records tied to property ownership and lending.
With the new AI-driven system, processing time has been reduced to less than two minutes per package while maintaining about 90% accuracy in document classification and data extraction, according to HousingWire.
Humans to Remain Involved
Nathan Schrauben, Rocket Close’s chief information officer, said human oversight remains a key part of the process.
“The human will step into almost all of the transactions, whether it’s verifying the data or looking at the exceptions,” Schrauben said, according to HousingWire. “That ensures we’re doing the right thing for our clients and making sure they have the proper homeownership rights to the property.”
