The integration will help Mortgage Cadence customers eliminate hours of manual document review and accelerate time to close while providing systematic income calculation and verification for self-employed borrowers, the companies say in a release.
LoanBeam uses optical character recognition technology to export data from scanned tax return documents to automatically calculate a borrower’s income. This, in turn, drastically reduces the time it takes for loan officers, underwriters and processors to review borrower qualifying income.
ELC facilitates mortgage lending in all forward and reverse channels. The LOS integrates with the leading service providers to give lenders an on-platform process that creates a better borrower experience and helps increase profitability through improved efficiency.
Mortgage Cadence its an Accenture company.