DALLAS, March 6, 2019 /PRNewswire/ — LoanBeam, the leader in automated income calculations from digital tax return data, announced today that their technology, designed to simplify lending to the growing self-employed borrower segment, has been integrated with Freddie Mac’s automated underwriting system. Loan Product Advisor’s® asset and income modeler (AIM) for self-employed, using LoanBeam’s unique technology, speeds the loan origination process for this group of borrowers.
“In today’s competitive housing market, lenders rely on technology to help them stay competitive,” said Sri Gajjala, Chief Product Officer at LoanBeam. “We are proud that our fully integrated solution can help expedite the loan closing process.”
In 2018, Freddie Mac introduced automated income capabilities, including LoanBeam’s Qualified Income Calculator (QIC). Now broadly available, LoanBeam’s technology works seamlessly with Loan Product Advisor® AIM for self-employed to promote automation, accuracy and consistency in the complex process of assessing income for self-employed borrowers during the underwriting process.
“Technology is advancing the housing industry in ways that can help all borrowers,” said Rick Lang, Freddie Mac, Vice President of Loan Advisor Strategy and Integration. “Our partnership with LoanBeam keeps Freddie Mac on the cutting edge of providing innovative solutions and the best service to lenders in the industry.”
With patented technology based on more than 15 years in tax preparation and accounting experience, LoanBeam has established itself as the standard in automated income calculation. LoanBeam is leveraging big data partners, advanced scanning technologies, and patented algorithms to reduce multiple streams of income into a single, easy-to-read, electronic output. The company is headquartered in Dallas, Texas. For more information, visit LoanBeam.com.
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.
Media Contact: Roby Robertson