Process Transmittal Summary (Form 1008) — Faster Underwriting
Loan processing requires reviewing dozens of documents per application. Manual review delays approvals and increases default risk.
Common Pain Points
- Loan processing delays cost customer satisfaction
- Missed income verification increases default rates
- Compliance gaps lead to regulatory action
- Manual stacking takes hours per application
What This Template Does
AI-powered extraction using gemini-2.5-flash. Part of 113 production-ready templates.
Capabilities
- Lending Extraction
- Loan Summary Processing
- Underwriting Analysis
- Mortgage
- 1008
Output Schema
{
"$schema": "http://json-schema.org/draft-07/schema#",
"title": "Transmittal Summary (Form 1008)",
"description": "Schema for extracted loan summary data from Fannie Mae Form 1008",
"type": "object",
"required": [
"document_type",
"borrower_info",
"property_info",
"loan_terms"
],
"properties": {
"document_type": {
"type": "string",
"const": "1008_transmittal",
"description": "Document type"
},
"lender_info": {
"type": "object",
...Quick Start
See It In Action
Real extraction example showing input document and structured output.
TRANSMITTAL SUMMARY Fannie Mae Form 1008 ================================================================================ SECTION I - LENDER AND LOAN IDENTIFICATION ================================================================================ Lender: Midwest Mortgage Corporation Seller/Servicer Number: 12345-67890 Loan Number: MMC-2024-456789 Investor Loan Number: INV-2024-789012 ================================================================================ SECTION II - BORROWER INFORMAT
{
"document_type": "1008_transmittal",
"lender_info": {
"lender_name": "Midwest Mortgage Corporation",
"seller_number": "12345-67890",
"loan_number": "MMC-2024-456789",
"investor_loan_number": "INV-2024-789012"
},
"borrower_info": {
"borrower_name": "David Alan Mitchell",
"co_borrower_name": "Rachel Marie Mitchell",
"borrower_ssn": "XXX-XX-3456",
"co_borrower_ssn": "XXX-XX-7890"
},
"property_info": {
"address": {
"street": "4521 Willow Creek Drive",
"city": "Naperville",
"state": "IL",
"zip": "60540",
"county": "DuPage"
},
"property_type": "single_family",
"occupancy": "primary",
"number_of_units": "1",
"year_built": "2015"
},
"loan_terms": {
"loan_type": "conventional",
"loan_purpose": "purchase",
"loan_amount": "520000.00",
"interest_rate": "6.500",
"loan_term_months": "360",
"amortization_type": "fixed_rate",
"first_payment_date": "2024-12-01",
"maturity_date": "2054-11-01"
},
"property_valuation": {
"sales_price": "650000.00",
"appraised_value": "660000.00",
"lower_of_sale_appraised": "650000.00",
"appraisal_type": "full",
"appraisal_date": "2024-10-05"
},
"loan_to_value": {
"ltv": "80.00",
"cltv": "80.00",
"hcltv": "80.00",
"subordinate_financing": "0.00"
},
"qualifying_ratios": {
"housing_expense_ratio": "26.76",
"total_debt_ratio": "32.76",
"monthly_housing_expense": {
"first_mortgage_pi": "3286.12",
"other_financing_pi": "0.00",
"hazard_insurance": "225.00",
"real_estate_taxes": "650.00",
"mortgage_insurance": "0.00",
"hoa_dues": "75.00",
"other": "0.00",
"total": "4236.12"
},
"total_monthly_income": "15833.33",
"total_monthly_debt": "5186.12"
},
"funds_required": {
"sales_price": "650000.00",
"closing_costs": "12500.00",
"prepaid_items": "3800.00",
"discount_points": "0.00",
"seller_credits": "8000.00",
"total_funds_required": "658300.00",
"borrower_funds": "138300.00"
},
"mortgage_insurance": {
"required": false
},
"credit_info": {
"credit_score_borrower": 762,
"credit_score_co_borrower": 745,
"representative_score": 745,
"credit_report_date": "2024-10-01"
},
"underwriting": {
"underwriting_method": "du",
"du_lp_findings": "Approve/Eligible",
"finding_case_id": "DU-2024-987654321",
"underwriter_name": "Patricia Chen",
"underwriter_id": "UC-4567",
"approval_date": "2024-10-12",
"conditions": [
"Verify funds to close prior to closing",
"Final title insurance commitment",
"Clear flood zone determination"
]
},
"special_features": {
"buydown": false,
"escrow_waiver": false,
"interest_only": false,
"prepayment_penalty": false
},
"validation": {
"ratios_within_guidelines": true,
"ltv_within_guidelines": true,
"credit_score_eligible": true,
"documentation_complete": true
}
}Loan transmittal summary for purchase transaction with married borrowers and property details. Demonstrates extraction of lender identification, borrower info, and loan transaction details.
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Frequently Asked Questions
What documents can Transmittal Summary (Form 1008) process?
The Transmittal Summary (Form 1008) template processes lending documents including various formats and layouts. See the instructions for specific document types supported.
How accurate is the Transmittal Summary (Form 1008) extraction?
The Transmittal Summary (Form 1008) template uses Gemini 2.5 Flash for high-accuracy extraction. Results include confidence scores for each field.
Can I customize the Transmittal Summary (Form 1008) template?
Yes, you can modify the extraction schema, add custom fields, or adjust the instructions to match your specific requirements.
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