That means lenders using Encompass can perform income analysis using IncomeGenius without having to exit the Encompass platform.
IncomeGenius uses optical character recognition to automate the income calculation process. The integration of documents and data from Encompass to IncomeGenius is an effective way for clients to improve their underwriting process, Indecomm says in a release.
IncomeGenius simplifies the task of calculating income for borrowers and highlights problem areas requiring the underwriter’s attention. Lenders see a dramatic improvement in efficiency, especially with those that include tax returns.
This replaces traditional Excel calculations and macros, resulting in significant time saving for underwriters, Indecomm says.