Le Lézard
Classified in: Business
Subject: CON

LoanBeam to Enhance the Income Verification Process



DALLAS, Oct. 6, 2017 /PRNewswire/ -- LoanBeam®, the leader in automated income extraction and calculation, announced today that it is partnering with Freddie Mac to develop an innovative income verification solution for the mortgage industry.   "We are pleased to be working with Freddie Mac on this state-of-the-art solution, as we collaborate to bring best of breed technologies to their customers, while driving reduced operational costs and delivering a superior borrower experience," commented Kirk Donaldson, President. "LoanBeam's capabilities, quality and accuracy have been validated by Freddie Mac," he added.

LoanBeam's technology combines investor-based calculation guidance, digital data and refined optical character recognition to read, interpret, and calculate income accurately ? for the first time ? directly from the borrower's income documents. LoanBeam is the only company with the ability to calculate income from paystubs, 1040, W-2, tax transcripts, and full tax returns; through the ingestion of digital and/or OCR formats.

"Our founder and President, Kirk Donaldson, realized the role technology would play in transforming the financial industry over a decade ago. Through his leadership and the efforts of the entire LoanBeam staff, our company is partnering with many of the top lenders, loan origination systems and today's announcement with Freddie Mac is the embodiment of his vision," said James MacGilvray, Chairman.

About LoanBeam

With patented technology based on more than 15 years in tax preparation and accounting services, LoanBeam has positioned itself as the standard in automated income calculation amongst market influencers. With over 130 clients, LoanBeam is leveraging big data partners, advantaged scanning technologies, and patented algorithms to reduce multiple streams of income into a single, easy-to-read, electronic output. The company's headquarters is in Dallas, Texas. For more information, visit www.LoanBeam.com.

 

SOURCE LoanBeam


These press releases may also interest you

at 00:07
ACT Genomics Holdings Company Limited ("ACTG" or "Company") is pleased to announce the completion of the latest round of equity financing from a group of international investors co-led by CLSA Capital Partners. Founded in 2014, ACTG is the Asia...

25 sep 2018
NetCents Technology Inc. ("NetCents" or the "Company") is pleased to announce the closing of its previously announced (see news release dated September 12, 2018) non-brokered private placement (the "Offering").  Due to demand, the Offering was...

25 sep 2018
Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), a platform providing artificial intelligence and internet of things ("AIoT") business solutions in China, is pleased to announce its subsidiary,...

25 sep 2018
Arco Platform Limited, or Arco , today announced that it priced its initial public offering of 11,111,111 Class A common shares at a public offering price of US$17.50.  Arco has also granted the underwriters a 30-day option to purchase up to...

25 sep 2018
ROCKVILLE, Md., Sept. 25, 2018 /PRNewswire-PRWeb/ -- Capital Bancorp, Inc. ("Capital" or the "Company"), the bank holding company for Capital Bank, National Association, today announced the pricing of its initial public offering of 2,228,736 shares...

25 sep 2018
Huobi Group, the world's biggest blockchain company, has announced that it has reopened eligibility for its Huobi Global Elites program. The program is intended to build strategic partnerships with prominent blockchain influencers, wealth management...




News published on 6 october 2017 at 09:07 and distributed by: