DENVER--(BUSINESS WIRE)--Mortgage Cadence, an Accenture (NYSE:ACN) company, has integrated LoanBeam’s income calculation service with Enterprise Lending Center (ELC), Mortgage Cadence’s end-to-end loan-origination solution. The integration helps Mortgage Cadence customers eliminate hours of manual document review and accelerate time to close while providing systematic income calculation and verification for self-employed borrowers.
LoanBeam revolutionized the mortgage income calculation process by using optical character recognition technology to export data from scanned tax return documents to automatically calculate a borrower’s income, drastically reducing the time it takes for loan officers, underwriters and processors to review borrower qualifying income.
“We’re pleased to add LoanBeam to our growing list of world-class integrated service providers,” said Brian Benson, executive manager of services at Mortgage Cadence. “LoanBeam is a groundbreaking service that helps reduce loan production times and improve the overall borrower experience, especially for self-employed mortgage applicants that are traditionally difficult to process. We’re excited to extend these new capabilities to our lender clients.”
Facilitating lending in all forward and reverse mortgage channels, ELC integrates with the industry’s leading service providers to give lenders an on-platform process that creates a better borrower experience and helps increase profitability through improved efficiency for lenders nationwide.
“Our mission is to provide the lending industry with data integrity by producing an output that is auditable, consistent and transparent,” said Jerry Melia, chief operating officer of Navesink Mortgage Services LLC, LoanBeam’s parent company. “Our collaboration with Mortgage Cadence builds upon this mission, and we look forward to providing Enterprise Lending Center users with this capability.”
About Mortgage Cadence
Since 1999, Mortgage Cadence has been providing the best people, process and technology for enterprise and mid-market lenders that desire to deliver an exceptional borrower experience. With over 17 million loans processed from point-of-sale through post-closing, Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way.
About Navesink Mortgage Services LLC
Navesink Mortgage Services LLC (NMS) and its two subsidiaries, LoanBeam and Appraisal Fee Services (AFS), provide residential mortgage lenders and mortgage services consolidators with software solutions that automate tax return analysis and provide a secured and regulatory compliant payment solution.
LoanBeam, the standard in automatic income calculation and verification, leverages big data partners, advanced scanning technologies, and patented algorithms to reduce multiple streams of income into a single, easy-to-read electronic output. LoanBeam saves lenders time and money while improving accuracy. LoanBeam is based in Dallas, Texas. For more information, visit www.LoanBeam.com
With operations that go back to 2004 and more than $1 billion processed, AFS is the mortgage industry’s intelligent enterprise payment system that supplies lenders and service providers with a simple, secure end-to-end solution for collecting application and appraisal fees. AFS provides a detailed reporting and dispute management and resolution in a PCI compliance fashion. AFS is based in Encinitas, California. For more information, visit www.feeservices.info.