Riders

Documentation for extracting essential data from Rider agreements in financial services.

Last updated
December 2, 2024

The Riders documentation outlines the specific attributes and data fields related to Rider agreements used in the financial services sector. These agreements are critical for defining additional terms and conditions that modify the original loan or mortgage agreements, ensuring clarity around adjustable rates and other key provisions.

The primary purpose of this document is to provide guidance on how to effectively extract and classify essential data from Rider agreements using Vaultedge's document extraction capabilities. It serves as a comprehensive resource for financial institutions looking to automate their data handling processes, thereby enhancing efficiency and accuracy in documentation management.

This documentation is significant as it supports compliance, regulatory requirements, and better financial decision-making by ensuring that all relevant information is easily accessible. Users can leverage this documentation to implement automated solutions that streamline their workflow and reduce manual data entry errors.

Extractable Data Fields

Below is a table listing the key data fields that Vaultedge can extract from Rider agreements. Please refer to the table below for detailed information.

Field NameIncluded in ProjectField Type
Document DateYesdate
FHA Case NumberYesnumber
First ARM Change DateYesdate
Subsequent Change IntervalYestext
Index NameYestext
Look Back DaysYestext
First MarginYestext
Ceiling RateYestext
Floor RateYestext
Maximum Increase FirstYestext
Maximum Decrease FirstYestext
Maximum Increase SubsequentYestext
Maximum Decrease SubsequentYestext
Rounding Factor - IndexYestext
Rounding Code - IndexYestext
Int Only FlagYestext
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