Loan quality technology provider LoanLogics has expanded its LoanBeam income calculation product with a broader array of income calculation tools for the same per-application costs.
The enhancements will enable lenders to efficiently process income documents related to wage earners in the same service they use to process self-employed borrowers, the firm says in a release.
By gaining access to all income calculations from within a single platform, LoanLogics clients can simplify and accelerate the income verification process for a wider number of borrower scenarios faster and more conveniently than ever.
“With today’s high rates and soaring loan production expenses, our latest enhancements to LoanBeam are a game-changer for lenders,” says Roby Robertson, head of mortgage origination automation at LoanLogics. “For our lenders, being able to process wage-earners and self-employed borrower income documents within the same integrations and in their preferred format makes it easy and cost effective to use LoanBeam Income for all paper-based income assessment.”