Indecomm Global Services
has announced that it has released a new three-way technology integration for its IncomeGenius automated solution for income calculations with partners LendingQB, a provider of Web-based, end-to-end loan origination software (LOS), and Advanced Data
, a provider of fraud prevention and enhanced verifications. With this new three-way product integration, mortgage lenders who are mutual clients of LendingQB
, Advanced Data, and IncomeGenius now benefit from seamless access to tax transcript data obtained from the source.
“Accessing data at the source to review assets and income is an important step to minimizing the risk of fraud or gaps in documentation-based calculation,” said Rajan Nair, Chief Executive Officer, Financial Services, Indecomm Global Services. “Mortgage lenders utilizing LendingQB, Advanced Data, and IncomeGenius will have the vital ability to obtain the tax transcript directly from the source, delivering an even more reliable and accurate income calculation, with a simplified process.”
IncomeGenius’ automation-driven platform adds certainty and simplicity to the challenge of self-employed borrower calculations. Prior to this, IncomeGenius was integrated with LendingQB and Advanced Data independently. The Web-based integration of documents and data from LendingQB to IncomeGenius provides 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. Mutual clients of Advanced Data and IncomeGenius digitally use tax return transcripts through IncomeGenius, using Advanced Data’s Income Tax Verification (ITV) service. That data is then combined with other borrower income data within IncomeGenius, to create a complete income analysis. The integration between the three systems benefits mutual clients with loan origination in LendingQB, income tax verification with Advanced Data, and income calculation with IncomeGenius.
“Indecomm and Advanced Data provide unique technology that further a lender’s goal to automate and adopt a digital mortgage lending process,” said David Colwell, VP of Strategy at LendingQB. “Our three-way integration connects their innovative products and services directly to the mortgage workflow, delivering a real impact to productivity and efficiency. It is the very definition of a synergistic partnership.”
Allen Johnson, CEO of Advanced Data Corporation, said, “As an Approved Report Supplier for Day 1 Certainty (from Fannie Mae), providing income data for IncomeGenius through LendingQB reflects our reputation for delivering innovative, high-quality products to the mortgage industry. This integration helps us deliver on our ongoing commitment to provide our clients with competitive advantages and great customer service.”