Document classification and data extraction are table‑stakes for mortgage manufacturing — but many vendors still charge premiums for these basics. Rapidio makes both free, so you can reinvest in what actually moves the needle: income calculation & eligibility across Fannie Mae, FHA variable income, VA, and Freddie Mac—with human‑in‑the‑loop QC by underwriters 10+ years.

Table of contents

  1. TL;DR
  2. Why this matters now
  3. The problem
  4. The fix
  5. What’s included
  6. Income types
  7. Manual Underwriting
  8. Compliance & auditability
  9. How Rapidio fits your stack
  10. Start for free
  11. FAQs

TL;DR

Stop paying for the shovel. Invest in the gold: accurate AI mortgage underwriting components that deliver decisionable income calculation results — fast.

Why this matters now

  • Thin margins: Per‑page “tolls” on document classification and data extraction strain IMBs, credit unions, TPOs, and brokers.
  • Outcome focus: Speed & accuracy come from what happens after extraction — income calculation, cash flow analysis, and eligibility.
  • Inclusivity: Removing commodity fees levels the playing field and improves borrower experience.

The problem: Shovel pricing in a gold‑rush world

Classification and extraction are the shovel; accurate income and risk decisions are the gold. Per‑document pricing for “AI loan processor” features incentivizes over‑processing, disadvantages smaller lenders, and obscures the real KPI — fewer UW callbacks, lower redraw %, faster approvals.

The fix: Make classification & extraction free

Rapidio includes document classification and data extraction at no cost — no minimums. Redirect savings to decisioning with our componentized Income Calculation & Eligibility stack:

  • Fannie Mae income calculator (incl. self‑employed and rental income)
  • Freddie Mac, FHA variable income, VA
  • Manual underwriting support when AUS isn’t applicable
  • Bank statement calculator online for non‑QM style cash flow analysis
Outcome focus: transparent income worksheets, rule citations, audit‑ready exports and a typical SLA of ≤ 15 minutes.

What’s included (at no charge)

  • Document classification for thousands of mortgage docs: URLA 1003 form, 1004 appraisal, W‑2s, 1099s, SSA‑1099, bank statements, K‑1s, tax returns incl. Schedule C/Schedule E
  • Data extraction of borrower details, income fields, balances, deposits, Borrower Rents, expenses
  • Normalization for AUS/Manual workflows and LOS/POS/CRM integrations

Income types Rapidio handles

W‑2 wage earner

Base, overtime, bonus, commission; averaging methods per Fannie Mae and FHA.

Self‑employed / Proprietors

Schedule C, Partnerships/S‑Corp with K‑1s; Proprietors’ income calculation with add‑backs and trend checks.

Rental income

From Schedule E, subject/non‑subject properties, net cash flow and Borrower Rents treatment.

Retirement & Social Security

SSA‑1099 form capture and applicable gross‑ups.

Bank‑statement cash flow

For non‑QM/edge cases, use our bank statement calculator to calculate bank statement income with seasonality controls.

When AUS says “no” — Manual Underwriting clarity

Support for Manual Underwriting when AUS (DU/LPA) is unavailable or returns Refer/Ineligible. We document the rules applied, prequal scenarios, and exceptions so your Mortgage Analyst can defend the decision.

Compliance & auditability

  • Guidelines: Fannie Mae, Freddie Mac, FHA, VA
  • Artifacts: Exportable income worksheets, assumptions, and conditions
  • Traceability: Field‑level provenance from source docs (e.g., lines on Schedule C/E)
  • Security: See Features and Integration Partnerships

How Rapidio fits your stack

  • Components: Plug in Income Calculation & Eligibility where you need it — LOS/POS/CRM.
  • No minimums: Use on a single 1003 loan application PDF or thousands.
  • Team roles: Processors prep files, Underwriters finalize with human‑in‑the‑loop QC, Loan Officers/Brokers get clear answers fast.

Start for free — 1 free calculation

Upload a file, choose your guideline pack (Fannie Mae, FHA, VA, Freddie Mac) and get a decisionable income result in minutes.

Try income calculation See pricing Book a 15‑min demo

Prefer bank‑statement workflows? Try our Bank Statement Calculator.

FAQs

Is document classification really free with Rapidio?
Yes — document classification and data extraction are included at no charge so you can invest in income calculation accuracy.
Do you support Fannie Mae self‑employed income?
Yes. We handle Schedule C, partnership/S‑Corp with K‑1s, and apply Fannie Mae policy with human QC.
Can Rapidio calculate rental income from Schedule E?
Yes. We parse Schedule E, identify subject vs. non‑subject properties, and compute Borrower Rents/net cash flow.
How do you handle FHA variable income?
We apply FHA rules for variable income (overtime/bonus/commission) with look‑back periods and averaging methods.
What about Manual Underwriting?
When AUS isn’t an option, Rapidio provides transparent Manual Underwriting income results with rule citations.
Do you support Social Security income (SSA‑1099)?
Yes. We capture SSA‑1099 amounts and apply the appropriate gross‑up where applicable.