That means users of LendingQB’s LOS now have seamless access to IncomeGenius from within the LendingQB platform. This will enhance mortgage lenders’ underwriting, pricing, compliance and other origination activities.
IncomeGenius was formerly known as Income Analyzer, but last month, Indecomm announced that it was rebranding the service. Along with the name change, new features and capabilities have been added, including an automatic income calculation (as soon as the user logs into the system), an enhanced interface and a new streamlined workflow. These are productivity enhancers designed for sales and operations to identify the right income early in the loan process. IncomeGenius also provides alerts and feedback based on current agency rules and best practices.
“IncomeGenius establishes a new standard for lending efficiency,” says Rajan Nair, CEO of financial services for Indecomm Global Services, in a release. “It offers an enhanced level of digitized income analysis, especially for self-employed borrower loans. It generates consistent and accurate results in a standardized and compliant fashion, allowing the user to immediately identify the probability of a successful loan application.”
IncomeGenius is integrated with self-employment training through Indecomm-Mortgage U, thus creating a total self-employed borrower income calculation solution.
IncomeGenius uses optical character recognition to automatically extract data from forms. It also simplifies the task of calculating income for self-employed borrowers and highlights problem areas requiring an underwriter’s attention.
“The integration with LendingQB merges IncomeGenius seamlessly into the lending workflow,” says Tim Nguyen, president of LendingQB, in a release. “Partnering with Indecomm is an extension of our best-of-breed technology strategy because they share our goal of reducing the cost of originating mortgage loans. The integration of IncomeGenius accomplishes this by increasing the efficiency of the underwriting process.”