In early 2024, about 1.5 million documents were landing at Rocket Mortgage every month.
W-2s. Bank statements. Everything a mortgage file needs. Each one had to be sorted, read and checked before a loan could close.
Rocket is one of the biggest mortgage lenders in the US. Here's what happened when it handed that paperwork to AI.
THE FIRST 70%
In April 2024, Rocket said its AI platform was identifying close to 70% of those documents on its own.
In February 2024 alone, that saved its underwriters more than 5,000 hours.
Closing times fell 25% between August 2022 and February 2024.
THE NEXT STEP
Since then, Rocket's CTO, Shawn Malhotra, has said about 80% of document sorting and 75% of data extraction run with nobody touching them.
The rest is AI-assisted, and a person does the final check.
Then the AI moved up the funnel. In May 2026, Rocket said AI agents now handle prospecting and outreach. That used to eat about 2 hours of a loan officer's day. Loan officers now spend that time with clients who are already engaged and prescreened, and conversion is up by double digits.
Its latest AI launches added another $1 billion in loan volume a month, on top of $1 billion the quarter before.
WHAT CHANGED FOR THE PEOPLE
The underwriter used to read every document. Now they check the ones the AI isn't sure about.
The loan officer used to start the day with cold outreach. Now they start with a client who wants to talk.
Nobody at Rocket claims the AI does everything. The last 20% still needs a person.
WHAT I SEE
This is the part I know best, because it's what we work on every day at Docsumo.
The first 70% comes fast. Clean, printed, standard documents. The last 20% is everything else. Handwriting, a phone photo of a page, a bank statement that runs to 40 pages.
That's where most of the work goes, and it's why the person doing the final check still matters.
Grid Finance, a Dublin lender we work with, reads a complex bank statement in under a minute at 94%+ accuracy. Fields the model isn't sure about go to a review queue, so a person checks only those.
ONE ASK
Roughly what share of your documents still get typed in by hand?
Reply with a number. A guess is fine.
Rushabh
The review queue only catches the fields the model knows it's unsure about. A new bank's statement layout can come through with confident, wrong totals, so pulling a small random sample of the auto-approved fields each week is what tells you whether that 94% still holds.