CoreLogic® announced the expansion of AutomatIQ™ Borrower to include Asset and Liabilities Analysis, making it a one-stop analysis solution for mortgage lending financial institutions. As the industry works to maintain accuracy and integrity in the loan verification process, AutomatIQ™ Borrower’s new Assets and Liabilities Analysis combines income insights with detailed asset and liability data.
AutomatIQ™ Borrower enhances the integrity and reliability of the loan calculation process, which has been a labor-intensive and error-prone task. The combined features of income, assets and liabilities analysis provides lenders with accelerated processing times, enhanced transparency and the ability to identify missing documents while flagging potential new income sources or missing liabilities, leading to a more informed decision-making process.
“When using the Assets and Liabilities Analysis along with AutomatIQ™ Borrower’s Income Analysis, our clients can be confident they are getting the most accurate data available,” said Praveen Chandramohan, CoreLogic senior vice president, Origination Growth Solutions. “We have simplified the analysis processes to create a streamlined relationship between the borrowers and financial institutions.“
With CoreLogic’s AutomatIQ™ Borrower Assets and Liabilities Analysis, borrowers can experience a more streamlined, efficient process with reduced wait times for their loan approvals, giving them faster access to their funds. Lenders will be able to process applications with more speed and accuracy.
“The tools give lenders a broader overview of a borrower’s financial landscape right at their fingertips,” said Chandramohan.
