Indecomm Global Services Launches Web-Based Platform for Self-Employed Borrowers

Indecomm Global Services has added to its suite of proprietary Software as a Service (SaaS) platforms by launching IncomeAnalyzer, a Web-based platform that electronically reads and analyzes data, calculates qualifying income associated with the mortgage loan, and alerts the lender to underwriting conditions. Agency income documentation and calculation messages are clearly and visually presented to users, providing a consistent methodology for the successful approval of loans.

“Indecomm’s Income Analyzer is a disruptive technology designed to relieve the industry of a very error-prone and manual process,” said Rajan Nair, CEO of Financial Services, Indecomm Global Services. “Income Analyzer addresses a primary reason for repurchase demands and errors today and also provides consistency and clarity into income calculations and decision-making. The goal is to deliver error-free files for servicing or sale and see the value on the bottom line. IncomeAnalyzer is an intelligent system driven by sophisticated OCR technologies and an interactive user interface. Its logic istriggered by the information within the borrower’s income documents. This will help our clients originate more loans at lower cost.”

Income Analyzer allows lenders to systematically document compliance related to qualifying income through standardization of the math and underwriting conditions. This can reduce exposure to inconsistent handling of income that,in turn, can lead to fair lending problems. Income Analyzer stores the audit trail of all changes made during the process, allowing lenders access to all layers of analysis necessary to resolve quality control, investor, or agency inquiries.

“Our business process outsourcing teams have processed and underwritten over one million loans during the last 10 years,” said Rachael Harris, director of Product Development–Income Analyzer, Indecomm Global Services. “We know howdisruptive complex tax returns can be to the flow of a loan. We designed Income Analyzer to improve the overall quality management strategy by providing expertise early in the process.”  

Income Analyzer is easily integrated into any workflow and can becustomized to meet an array of underwriting standards. The proprietary OCR technology and rules based engine is capable of handling complex files with multiple subsets of income documents. Stream-by-steam functionality allows for qualifying on any combination of income types and produces a cash flow analysis in any form, including Fannie Mae, Freddie Mac and proprietary formats.