Integrations Automate More And More

Lenders want more from their LOS, but the LOS can’t be all things to all clients, so we’re seeing more integrations completed whereby the LOS “does” more by seamlessly linking to other players. For example, Indecomm Global Services, a provider of business process outsourcing, learning, and technology solutions, and LendingQB have completed a technology and integration partnership. The partnership provides mutual clients seamless access to Indecomm’s IncomeGenius, a tax return analysis platform, along with LendingQB’s credit underwriting, pricing, compliance, and other services.

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IncomeGenius’s Optical Character Reader (OCR) driven platform adds certainty and simplicity to the challenge of self-employed borrower calculations. The web based integration of documents and data fromLendingQB to IncomeGeniusis is an effective way for clients to improve their underwriting process. It simplifies the task of calculating income for self-employed borrowers and highlights problem areas requiring the underwriter’s attention. This replaces traditional Excel calculations and macros, resulting in significant time-savings for underwriters, and boosts their throughput with more loans processed in a day.

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IncomeGenius’s logic enables those not necessarily trained as an underwriter to have the same thought process and approach as one. This allows a lender to move the income calculation upstream to loan officers and processors, facilitating smoother validation by underwriting.

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“Client needs rise to the top of our priority,” said Rajan Nair, CEO, Financial Services, Indecomm Global Services. “Integrating the intelligence of Indecomm’sIncomeGeniuswith the reach of LendingQB will give our clients precision, accuracy, and lower costs in loan origination.”

“The integration with LendingQB merges IncomeGenius seamlessly into the lending workflow,” said Tim Nguyen,President of LendingQB. “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 IncomeGeniusaccomplishes this by increasing the efficiency of the underwriting process.”

The regulatory pressure on lenders to underwrite consistently and error free continues to grow.Lenders using IncomeGenius within LendingQB will find the income calculation process quick and accurate, minimizing buyback risk.

“Our workflow enables an assembly line approach to income analysis,” said Nair. “It provides multiple versions of the income analysis worksheet, to meet all agency requirements.”

About The Author

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.