AutomatIQ® Borrower Income Analysis
AutomatIQ Borrower Income Analysis provides a streamlined, automated solution for income calculation and analysis directly within Encompass. By leveraging advanced algorithms and deep income underwriting expertise, this tool improves the efficiency and consistency of borrower income assessments—essential for informed loan decisions.
Key Features
Income Verification:
Automatically calculates income from various sources. It provides upfront representations and warranties (Rep & Warrant) decisions from Freddie Mac and Fannie Mae, allowing underwriters, processors, and loan officers to compare income data, meet investor requirements, and generate reports with verified income sources and custom calculations.
Compliance and Risk Management:
Helps lenders remain in compliance with evolving requirements by maintaining accurate and verifiable income records.
Efficiency in Loan Processing:
Speeds up the loan approval process by reducing the time spent on manual reviews and corrections of borrower income.
Why AutomatIQ Borrower Income Analysis Matters
Leveraging AutomatIQ Borrower Income Analysis within Encompass offers several key benefits:
It significantly enhances operational efficiencies by automating complex and time-consuming income verification tasks.
Reduces the likelihood of human error in income calculation, increasing the accuracy of loan assessments.
Helps lenders remain compliance with evolving regulatory requirements by maintaining accurate and verifiable income records.
By adopting CoreLogic's AutomatIQ Borrower Income Analysis within the Encompass platform, lenders can revolutionize the borrower income analysis process. This intuitive tool helps lenders make faster, more consistent decisions while enhancing borrower satisfaction.
Pre-certified for both the Fannie Mae and Freddie Mac Rep and Warrant relief programs, AutomatIQ Borrower Income Analysis provides a reliable, user-friendly system that helps users simplify operations and accelerate loan decisions. With this advanced solution, originators gain a clear path to efficient, consistent, and dependable underwriting, setting a new standard for excellence in the mortgage process.
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