Turn every borrower file into decision-ready data

The debt-to-income (DTI) ratio is a borrower’s total monthly debt payments divided by their gross monthly income, expressed as a percentage. For example, $2,000 in monthly debt payments with $6,000 in gross monthly income gives a DTI of 33%. Many lenders look for 36% or less, though the maximum depends on the loan type and program. To calculate it, lenders need reliable figures from several documents: gross income from payslips, and existing debt payments from bank statements and mortgage statements. Mindee extracts these figures automatically, so analysts can calculate the DTI without retyping any data.

For employees, proof of income usually means recent payslips (pay stubs), often supported by W-2s, tax returns or an employer letter. Self-employed borrowers typically provide tax returns, 1099 forms, profit and loss statements and bank statements showing regular deposits. Lenders often ask for several documents because each one confirms the others. Mindee extracts the key figures from payslips and bank statements, such as gross and net pay, YTD earnings, employer name and salary deposits, so you can verify income across documents in seconds instead of reading every page.

Underwriting can take from a few days to several weeks, depending on the type of loan and how complete the borrower’s file is. A large share of that time goes to collecting documents, retyping their data and going back to the borrower for missing or inconsistent information. With Mindee, each document is classified and its data extracted in seconds as soon as it is uploaded, and incomplete files are flagged immediately. Underwriters start from a ready-to-review file and spend their time on credit decisions rather than data entry.

Yes. Since every document becomes structured data, consistency checks can run automatically across the whole file. For example, you can check that the net pay on the payslips matches the salary deposits on the bank statements, that the name and address are the same on the ID, the proof of address and the application, and that the monthly payment on an existing mortgage statement appears in the account’s transactions. Consistent files go straight to underwriting, and those with discrepancies are flagged with the fields that don’t match. This saves time and helps detect altered or inconsistent documents before a credit decision is made.