LoanLogics, offering due diligence, audit software and automation solutions for the mortgage industry, has launched a new version of its LoanBeam product designed specifically for non-QM lenders.
LoanBeam NQM, the firm says in a release, automates bank statement analysis for non-QM loans, resulting in lower per-loan processing costs and more accurate data validation, ensuring reliable calculations.
The platform’s built-in quality controls, NSF tracking, and audit trails also protect the lender pipeline.
“The non-QM market is continuing to expand to serve creditworthy borrowers who may not otherwise qualify for a mortgage, but manual income analysis can still create bottlenecks that limit loan volume, slow down underwriting and delaying closings,” says Dave Parker, CEO of LoanLogics. “Manual processing is also more vulnerable to data transcription errors, missing documentation, inconsistent guideline applications, and compliance issues that can damage borrower relationships and investor confidence.”
LoanBeam NQM addresses the challenges related to bank statement analysis for non-QM loans by combining AI-powered document processing, human verification, and intelligent income calculation to transform weeks of manual work into a streamlined digital process.