Indecomm Global Services reports that its automated income verification solution, IncomeGenius, is now integrated with the Lendsnap point-of-sale solution, thus creating a faster and more accurate path to mortgage loan underwriting.
This integration leverages Lendsnap’s data from sources of truth for income calculations in IncomeGenius, the companies say in a release.
Through this integration, lenders will be able to reduce fraud, boosts origination efficiencies and improve the borrower experience.
The Lendsnap POS solution enables lenders to collect borrower income and asset documents directly and securely from their source. It is integrated with major payroll and tax filing companies, which provide access to borrower pay stubs, W-2s, tax returns and 1099s.
“Indecomm is again raising the bar for accuracy in income calculation,” says Rajan Nair, CEO, financial services, for Indecomm Global Services, in the release. “The integration of IncomeGenius with Lendsnap moves the automation of income calculation to the point of sale and avoids intermediary and error-prone input. This is especially timely given Fannie Mae’s Day One Certainty focus on data from the source of truth. Lenders can expect a reduction in fraud, enhanced origination throughput and efficiency, as well as an improved borrower experience.”