Case Study: Compeer Financial achieves faster mortgage processing and smoother demand management with Ocrolus

Compeer Financial is Using Technology to Even out Fluctuating Demand for Home Mortgages

Compeer Financial, a Midwest cooperative with 1,300 employees serving 144 counties and a Rural Living Solutions (RLS) unit that originates about $2 billion in loans with just 100 staff, faced a paperwork surge during the 2021 refinancing boom that limited loan officers' ability to focus on customers. After evaluating nine vendors, Compeer Financial selected Ocrolus and its human-in-the-loop documentation automation platform to address rising document volume and free staff from manual processing.

Ocrolus was implemented to classify borrower documents, extract and transpose data into Encompass by ICE Mortgage, run calculations, and verify income—seamlessly integrating within Compeer’s LOS. The Ocrolus solution cut processing time by about half for complex, multi-entity files and trimmed 20–25% off standard files, boosting productivity, reducing repeated checks, and enabling RLS to scale more efficiently without hiring cycles tied to market swings.

Compeer Financial

Tim Tjosaas

VP of Rural Living Solutions