Le Lézard
Classified in: Business
Subject: LIC

LoanBeam - PointServ Partnership Solves Significant Mortgage Underwriting Pain Points


SAN FRANCISCO, Oct. 20, 2017 /PRNewswire/ -- LoanBeam and PointServ, two leading technology providers to the U.S. mortgage lending industry, are partnering to make it easy for Lenders to solve two of the toughest pain points they face during the underwriting process: (1) Delivering the complete digitized financial document set from borrowers and (2) Producing consistent and accurate Qualified Income Calculations. 

Lenders can now use PointServ's web service to access both borrowers' digitized source financial documents as well as static .pdfs and other documents.  LoanBeam's Optical Character Recognition (OCR) and digital reading technology processes income related documents and combines PointServ-derived source data to provide the Qualified Income Calculations Lenders need to underwrite and sell mortgages to the Agencies and third parties.

"We're excited to be partnering with LoanBeam -- both of our companies have been innovators in the digitized financial document space and we share a focus on making the experience quicker and simpler for consumers and our customers.  Our shared vision enables the buyer of any credit asset to instantaneously re-underwrite the file ahead of purchasing the asset and in return, our customers eliminate loan buyback exposure related to these financial documents.  We believe this is a game changing solution for the mortgage industry," said Jeremy Kelly, CEO of PointServ.

Highlights of the partnership:

"This partnership is about leveraging each other's core assets to enable simple, secure and truly transformative delivery of digitized financial documents and Qualified Income Calculations for our joint customers," said Kirk Donaldson, LoanBeam's CEO.  "Lenders can now run all applications through our integrated platform, not just the loans with complex tax returns or a borrower willing to provide his or her source data. LoanBeam's proprietary technology analyzes the data to provide the Qualified Income Calculations lenders need to underwrite a mortgage loan and then confidently portfolio it or sell it within Agency and investor guidelines."

"Today's homebuyers expect a fast and secure digital experience every step of the way when getting a home loan," said Tim Elkins, PrimeLending EVP of Technology. "LoanBeam and PointServ working together to create a better and more seamless documentation and verification process is a win-win ? our customers have fewer hassles when applying for a mortgage and we have quicker access to the accurate information we need to process their loans."

About PointServ

Founded in 2008 and headquartered in Silicon Valley, PointServ provides access to source data across the complete set of consumer financial documents needed by U.S. consumer finance credit providers. PointServ improves the ecosystem of consumer finance in the U.S. by creating a better consumer experience, significantly improving the efficiency of our customers' business processes and eliminating fraud.

For more information, visit pointserv.com

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 are in Dallas, Texas. For more information, visit www.LoanBeam.com.

 

SOURCE PointServ


These press releases may also interest you

at 05:45
The Gross Law Firm issues the following notice to shareholders of New York Community Bancorp, Inc. . Shareholders who purchased...

at 05:30
Cato Networks, the SASE leader, announced a new SASE throughput record here at the Porsche Studio Ginza ahead of the 2024 Tokyo E-Prix, achieving 10 Gbps without hardware upgrades. At 10 Gbps, Cato became the first SASE platform to compete not only...

at 05:00
TAL Education Group ("TAL" or the "Company") , a smart learning solutions provider in China, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year 2024 ended February 29, 2024, before the market...

at 04:25
Ademi LLP is investigating Doma  for possible breaches of fiduciary duty and other violations of law in its transaction with Title Resources Group. ...

at 04:00
U Power Limited (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that the Company held an extraordinary general meeting of...

at 04:00
Tonight on BBC1, REMY founder Abeer Iqbal, entered the Den, and despite intense grilling and no investment, left with a six-figure job offer from Peter Jones. ...



News published on and distributed by: