Income Verification Suite
APPSolute Income™ combines Loanbeam’s patented Prism™ technology to extract, verify, and calculate income data from any income source.
APPSolute Tax™ leverages Prism™, Loanbeam’s extraction technology to convert tax documents – regardless of complexity – into GSE-Certified* “self-employed” income calculations and underlying consumable data points.
- Reduces the risk assessment process by days
- Provides up-front income security
- Standardizes income assessment
- Increases UW output
- Bridges the “experience gap” for new staff
- Reduces processing overhead
- Scalable process flow
- Protects against fraud
- Provides rep and warranty relief* for “Self-Employed” borrowers
- Returns GSE-specific income calculations
- Detects income data inconsistencies
- Integrates with major loan origination systems
- Built on RESTful APIs for easy integration
- Verifies income data against certified IRS data*
- Flattens complex files into a single, pre-populated workbook
*Freddie Mac® and Fannie Mae® offer rep and warranty programs for APPSolute Tax™’s income calculations.
**When combined with APPSolute Transcripts™.
Powered by Prism™
APPSolute Wage™ leverages Prism™, Loanbeam’s extraction and triangulation software, to lift, verify, and calculate income from pay stubs and W-2s. Learn more about Prism™.
Traditional document imaging platforms base their document recognition on traditional, template-based optical character recognition (OCR), which work great with documents that the system understands (i.e., documents previously templated by OCR programmers). However, template-based OCR is incapable of reading data from documents outside of templates previously programmed.
Loanbeam’s Prism™ technology, however, uses programmatic data pairing to decipher income data from unstructured documents, whether it has seen the document before or not.
- Automates income calculation on PDF-based pay stubs
- Flattens income calculation in seconds rather than hours
- Allows users to focus on risk assessment
- Consumable, field-level data for seamless integration
- Improves compliance risk
- Improves workflow
- Calculates borrower income from pay stubs and W-2’s in seconds
- Uses programmatic configuration to consistently source and calculate income
- Built on RESTful APIs for system automation
- Prism™ technology validates income data programmatically
- Automated technology works around the clock
- Returns income with a confidence score
- Friendly UX provides document transparency
- Converts paper documents into consumable data points