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Step 2: Document Submission

Once your application is complete and you've been matched with lenders, it's time to verify everything with documentation. This step transforms your application from estimates into verified facts that lenders can underwrite.

MoneyMatcher's secure portal and Chandra OCR technology make document submission faster and easier than ever before.

What to Expect​

StageDurationWhat Happens
Document Upload30-60 minutesYou upload required documents
Chandra OCR ProcessingInstantAI extracts and verifies data
Initial Review24-48 hoursMoneyMatcher checks completeness
Ready for Underwriting1-3 daysFile packaged for lender

Pro Tip: The faster you submit complete documents, the faster you close!

The MoneyMatcher Secure Portal​

Accessing Your Portal​

After your application is submitted:

  1. You'll receive a portal login via email
  2. Create your secure password
  3. Access your personalized dashboard
  4. Upload documents directly

Portal Features​

  • ✅ Bank-level security (256-bit encryption)
  • ✅ Document checklist - Know exactly what's needed
  • ✅ Progress tracker - See what's complete
  • ✅ Status updates - Real-time notifications
  • ✅ Mobile-friendly - Upload from your phone
  • ✅ Secure messaging - Communicate with your advisor

Supported File Types​

FormatSupportedNotes
PDF✅ YesPreferred format
JPG/JPEG✅ YesGood for photos, IDs
PNG✅ YesGood for screenshots
HEIC✅ YesiPhone photos
Word/Excel⚠️ Convert to PDFBetter security
ZIP files❌ NoUpload individual files

Maximum file size: 25 MB per document

Chandra OCR: Your Document Superpower​

What Is Chandra?​

Chandra is MoneyMatcher's AI-powered document processing system. It uses Optical Character Recognition (OCR) to:

  • 📄 Extract data automatically from your documents
  • ✅ Verify information against your application
  • 🔍 Flag discrepancies before they become problems
  • ⚡ Speed up processing by 40x compared to manual review

How Chandra Works​

Step 1: Upload You upload a document (e.g., bank statement)

Step 2: OCR Processing Chandra reads and extracts:

  • Account holder name
  • Account number
  • Balance
  • Transaction history
  • Statement date

Step 3: Verification Chandra compares extracted data to your application:

  • Does the name match?
  • Do the balances support your claims?
  • Are there any red flags?

Step 4: Feedback You receive instant notification:

  • ✅ Document accepted
  • ⚠️ Additional info needed
  • ❌ Issue detected (with explanation)

Chandra Accuracy​

Document Type          Accuracy Rate
─────────────────────────────────────
Bank Statements        99.2%
Tax Returns            98.7%
Pay Stubs              98.9%
Photo IDs              99.5%
Lease Agreements       97.8%
Property Documents     97.4%

Documents by Loan Type​

DSCR Loans​

Required Documents:

DocumentPurpose
Photo IDIdentity verification
Bank Statements (2 months)Down payment funds
Purchase ContractProperty & terms
Lease Agreement or Rent ScheduleDSCR calculation
Property Insurance QuotePITIA calculation
LLC Documents (if applicable)Entity verification

NOT Required:

  • ❌ Tax returns
  • ❌ W-2s or pay stubs
  • ❌ Employment verification

Conventional Loans​

Required Documents:

DocumentPurpose
Photo IDIdentity verification
Tax Returns (2 years)Income verification
W-2s (2 years)Employment income
Pay Stubs (30 days)Current income
Bank Statements (2 months)Assets/down payment
Purchase ContractProperty & terms

Hard Money / Bridge Loans​

Required Documents:

DocumentPurpose
Photo IDIdentity verification
Purchase ContractDeal terms
Scope of WorkRehab budget
Proof of FundsDown payment
Experience ResumeTrack record
Exit StrategyHow you'll repay

Commercial Loans​

Required Documents:

DocumentPurpose
Entity DocumentsBusiness verification
Personal Financial StatementGuarantor strength
Tax Returns (3 years - business)Business income
Tax Returns (3 years - personal)Personal income
Operating StatementsProperty performance
Rent RollCurrent income
LeasesTenant verification

Full Document Checklist →

Document Submission Best Practices​

1. Submit Complete Documents​

Do:

  • ✅ Include ALL pages (even blank ones)
  • ✅ Ensure full documents are visible
  • ✅ Check that text is legible

Don't:

  • ❌ Crop important information
  • ❌ Submit partial statements
  • ❌ Use blurry photos

2. Match Names Exactly​

All documents should show consistent names:

  • Bank accounts should match application name
  • Tax returns should match ID
  • Property documents should match borrower/entity

Name Variations: If you go by "Michael" but documents show "Mike," note this in the portal.

3. Current Documents Only​

Document TypeAge Requirement
Bank StatementsWithin 60 days
Pay StubsWithin 30 days
Tax ReturnsMost recent filed year
Financial StatementsWithin 90 days
Insurance QuotesCurrent/valid

4. Readable Quality​

For photos and scans:

  • ✅ Good lighting
  • ✅ Flat surface (no curves)
  • ✅ All corners visible
  • ✅ No glare or shadows
  • ✅ Text is sharp and readable

Smartphone Tip: Use your phone's document scanner feature for best results (available in Notes app on iPhone, Google Drive on Android).

5. Organize Before Uploading​

Create folders on your computer:

📁 Loan Documents
├── 📁 Personal ID
├── 📁 Income Documents
├── 📁 Bank Statements
├── 📁 Property Documents
└── 📁 Tax Returns

This makes uploading faster and ensures nothing is missed.

Common Document Issues & Solutions​

Issue: Document Rejected​

Possible Causes:

  • File is corrupted
  • Image is too blurry
  • Document is expired
  • Wrong document type

Solution: Re-upload a clearer version. Use PDF when possible.

Issue: Name Mismatch​

Possible Causes:

  • Maiden vs. married name
  • Nickname vs. legal name
  • Typo on document

Solution: Provide explanation letter or additional ID showing both names.

Issue: Missing Pages​

Possible Causes:

  • Forgot to scan all pages
  • Automatic scan missed pages
  • Only uploaded summary page

Solution: Re-upload complete document with ALL pages.

Issue: Outdated Document​

Possible Causes:

  • Bank statement too old
  • Using last year's tax return
  • Expired insurance quote

Solution: Obtain and upload current documents.

Issue: Documents in Wrong Language​

Possible Causes:

  • Foreign documents
  • Documents from overseas accounts

Solution: Provide certified translation along with original.

Timeline Expectations​

Standard Processing​

ActivityTimeframe
Document upload30-60 minutes (your time)
Chandra OCR processingInstant - 1 hour
Initial review24-48 hours
Follow-up requests (if any)24-48 hours
File ready for underwriting1-3 days total

Speed Up Your Timeline​

Do These Things:

  • ✅ Upload all documents at once
  • ✅ Check completeness before submitting
  • ✅ Respond quickly to requests
  • ✅ Upload during business hours

Avoid These Things:

  • ❌ Uploading documents piecemeal
  • ❌ Waiting to find "missing" documents
  • ❌ Ignoring requests for additional info

Document Security​

How We Protect Your Information​

Encryption:

  • 256-bit SSL encryption (same as banks)
  • Data encrypted at rest and in transit
  • Secure, private servers

Access Control:

  • Only authorized personnel access files
  • Audit trails for all document access
  • Multi-factor authentication required

Compliance:

  • SOC 2 certified
  • GDPR compliant
  • CCPA compliant

Data Retention:

  • Documents deleted after loan closes (upon request)
  • No selling of personal information
  • Privacy policy clearly outlines data use

What Comes Next​

After document submission is complete:

Step 3: Underwriting → Learn More

  • Lender reviews your complete file
  • Property appraisal ordered
  • Conditions may be issued

Frequently Asked Questions​

Q: Can I upload documents from my phone?​

A: Yes! Our portal is fully mobile-friendly. You can photograph documents with your phone and upload directly. For best results, use your phone's built-in document scanner.

Q: What if I don't have a document yet?​

A: Upload what you have and note any pending items. For example, if you're waiting on a purchase contract, you can upload other documents first and add the contract when available.

Q: How do I know if my documents were received?​

A: You'll see confirmation in your portal dashboard, and receive email notification. Documents show as "Received," "Processing," or "Reviewed."

Q: What if Chandra flags an issue?​

A: You'll receive a clear explanation of the issue and what's needed to resolve it. Our team is available to help clarify any questions.

Q: Can I password-protect my PDFs?​

A: Please remove password protection before uploading. Chandra cannot process encrypted files.

Need Help?​

Having trouble with document submission?

We're here to help! Don't let document confusion slow down your loan.