Document Analytics & Reporting
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Document Analytics & Reporting

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Improve income quality analysis and results while reducing legal, audit and repurchase risks

QM or non-QM, today's borrower affordability analysis needs to be a documented science instead of an art varying by the person performing it. Standardized, documented analysis rules, process and results are key to proving your unbiased due diligence on each borrower's ability to repay now, continuance probability and to protect your bottom line.

FACTCheck creates meaningful, standardized intelligence in minutes on income, asset and appraisals found in every loan file for Ability-to-Repay (ATR) income and asset compliance, and QM debt-to-income (DTI) validation and documentation. Tax transcripts become an easy, vital part of your risk management strategy.

FACTCheck

  • Most comprehensive income calculation and analysis tool with custom-built rules engine
  • Ingests borrower-provided documentation and IRS source-of-truth data, creating consistent, rules-driven analysis across all sources
  • Eliminates manual underwriting errors
  • Fulfills GSE requirement for self-employed cash flow analysis submission (replaces FNMA 1084, FHLMC 91, etc.)
  • Increases underwriting capacity and resolves compliance assurance for Ability to Repay legislation
  • Produces a concise report from each analysis for easy, insightful decisioning and audit documentation
  • Detailed, interactive report contains both calculated qualifying income and messages of explanation and instruction
  • Report can be obtained as part of your IRS transcript order from select Income Verification Express Service (IVES) providers

As a cloud-based service, you gain

  • Rapid initial deployment
  • Ongoing rule changes implemented in 24 hours
  • Consistent, documented income analysis process with results provided in minutes
  • Confidence your policy/rules are applied systematically with no human bias or variable interpretation
  • Fully documented, unchangeable results saved to the loan file
  • Meaningful legal, regulatory, audit and repurchase risk reduction
  • Regulatory rules monitored by compliance experts with updates seamlessly applied

Streamlines the underwriting income process, enabling flawless file preparation prior to underwriter review

  • Imports raw tax transcripts to FACTCheck Tax Transcript Analysis in either HTML or a variety of PDF formats, so no need to manually input information
  • Reviews all reportable tax income components, including wage, investment, retirement, rental, self-employment, farm, alimony and alternative income
  • Calculates and summarizes historical income and determines income stability
  • Applies consistent ATR calculation rules, tests for ATR compliance and provides full rationale
  • Identifies further required action and all supporting documents needed
  • Empowers underwriter to update calculations with documented explanation while preserving source data
  • Provides uniform documentation for every loan file that clearly illustrates the income and how it was derived, speeding future QC and due diligence review

FACTCheck Tax Transcript Report

Underwriters can focus their time on "gray areas" and more difficult situations. Document collection can be done by processors and assistants.

  • Improves your qualifying ratios
  • Speeds your process to minutes per loan
  • Eliminates manual underwriting errors
  • Flags issues needing detailed underwriter explanation
  • Fully documents underwriter's exception rationale
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Start improving your business.

Let's discuss how we can meet your specific needs.


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