Mortgage technology solutions provider CoreLogic on Tuesday announced that its AutomatIQ Borrower tool is expanding to include asset and liabilities analysis capabilities.
The company aims to make the product a “one-stop analysis solution for mortgage lending financial institutions,“ it said in its announcements. AutomatIQ Borrower is designed to provide greater integrity and reliability in the loan calculation process, which CoreLogic describes as a historically “labor-intensive and error-prone task.“
“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,” Praveen Chandramohan, CoreLogic’s senior vice president of origination growth solutions, said in a statement. “We have simplified the analysis processes to create a streamlined relationship between the borrowers and financial institutions.“
The tool combines income, assets and liabilities analysis features to help mortgage lenders speed up their processing times, enhance transparency and better identify missing documents while “flagging potential new income sources or missing liabilities,“ the company explained.
Earlier this month, CoreLogic announced that Earnnest had joined its Real Estate Alliance Network. Through the partnership, Earnnest will serve as CoreLogic’s exclusive provider of escrow management services through its suite of MLS products.
