CoreLogic’s AutomatIQ Borrower Income Analysis solution is now integrated with Fannie Mae’s Income Calculator, the company announced last week.
With this integration, mortgage lenders will be able to calculate borrowers’ income according to the standards described in Fannie Mae’s Selling Guide. Lenders will be able to automate, streamline and standardize their income verification processes while improving customer experience.
“AutomatIQ Borrower Income Analysis has improved significantly through this collaboration with Fannie Mae,” Praveen Chandramohan, executive of origination solutions at CoreLogic, said in a statement. “We are now able to provide lenders with a single solution for analyzing and calculating qualifying income for a loan across the borrower(s) complexity spectrum – from simple wage earners to highly complex self-employed borrowers. We can do this in a fraction of the time previously required. With this announcement, we are advancing our strategic vision of automating the simple and simplifying the complex in the mortgage origination workflow.”
AutomatIQ Borrower Income Analysis leverages CoreLogic technology and generates easy-to-read reports, complying with investors’ and GSE requirements.
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