OMAHA, Neb.--(BUSINESS WIRE)--Moody’s Analytics today announced its new Tax Return Import feature, an enhancement to the Lending Cloud loan origination system. The new feature allows lenders to import multiple years of tax data, including supporting schedules, instantly from PDF tax returns. Coupled with Lending Cloud’s intuitive tax form interface, this solution allows users to capture the data from these tax forms easily and integrate it into their loan analysis.
With more than 90 percent of tax returns now being e-filed with the IRS, electronic versions of tax documents are increasingly available. Tax Return Import allows lenders to process electronic tax documents more quickly to increase efficiency, streamline loan decisions, and reduce time-to-cash for customers.
This new functionality can be used in conjunction with the MARQ™ customer portal, which enables instant online collection of financials and supporting documents from borrowers. Both MARQ and Tax Return Import can be accessed as part of the Lending Cloud platform. Together, these capabilities enable lenders to obtain and process the full range of financial information they need from business borrowers in minutes, and automate spreading for faster decisioning.
“We are committed to making the Lending Cloud platform the most comprehensive solution for our customers’ credit programs, from origination through the life of the loan,” said Jim Gleason, Managing Director at Moody’s Analytics. “By automating retrieval of the financial and tax information a lender needs to make a credit decision, our clients can shift their focus from completing manual tasks to growing their business.”
The Tax Return Import feature is intuitive for users and requires little or no training. The tool is being rolled out this month to current Lending Cloud customers with an unlimited record subscription. It is also available to new Lending Cloud clients.
Click here to learn more about Tax Return Import.
Click here for more information about the Lending Cloud platform.
About Moody’s Analytics
Moody’s Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research, and financial risk management. By providing leading-edge software, advisory services, and research, including the proprietary analysis of Moody’s Investors Service, Moody’s Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $3.5 billion in 2015, employs approximately 10,900 people worldwide and maintains a presence in 36 countries. Further information is available at moodysanalytics.com.