Calculating a borrower’s income has traditionally been a manual, time-consuming task characterized by inefficient processes, inconsistent results and the absence of supporting documentation.
Built by underwriters, AutomatIQ™ Borrower Income Analysis changes everything. This tool offers a single, intelligent workflow solution to help you accurately and efficiently analyze and calculate borrowers’ income from all sources in a fraction of the time.
Regardless of which team member initiates the workflow, AutomatIQ Borrower Income Analysis delivers a report with high confidence, accuracy and consistency every time. As income documents become available, the solution continuously updates the income calculation. In addition, it provides suggestions which the reviewer can use to identify income opportunities to increase a borrower’s qualifying potential
The solution enables loan officers and underwriters to significantly reduce human error in income calculations and document retrieval by using a wizard-driven task list. With a single, flexible, fully integrated solution, users enjoy an intuitive experience that results in accelerated processing and improved efficiency.
AutomatIQ Borrower Income Analysis helps underwriters, processors and loan officers quickly get Rep & Warrant decisions from Freddie Mac. This solution allows lenders to easily compare income data, meet investor-specific needs and generate personalized PDF reports highlighting verified income sources and custom calculations. In addition, these PDFs are safely stored in the LOS loan file, ensuring smooth auditing and record-keeping.
In qualifying income and perfecting documents, loan officers and underwriters have the option to customize/configure their views, allowing them to choose the report order that is most convenient to them. In addition, multiple users can work simultaneously on the same report, allowing them to collaborate in real-time.
AutomatIQ Borrower Income Analysis uses an intuitive and secure web-based interface (SSO enabled) that makes it easy for you to qualify and review borrowers.
AutomatIQ Borrower Income Analysis can be instantly accessed via ICE Encompass, the AutomatIQ Borrower Portal (Web UI), or directly integrated into any proprietary LOS or software workflow using the solution API.
Citizens Bank reduced turn times, ensured consistency and increased borrower satisfaction with Income Analysis.
