Indecomm Global Services has integrated Advanced Data Corp.’s income tax verification with its IncomeGenius, the companies announced. The integration will make the underwriting process more efficient by providing the two company’s mutual clients access to digital tax returns.
“At its core, Indecomm is working to apply advanced technologies and data from sources of truth in the most critical phases of the mortgage business, especially underwriting. These are bottlenecks in the mortgage origination process and overcoming these constraints can enhance the efficiency of the entire system,” Indecomm Global Services CEO, Financial Services, Rajan Nair said in a release.
“Working with Advanced Data allows us to provide an easy, efficient, and quick way to order tax return data, which is crucial in income analysis. This integration adds another level of efficiency to IncomeGenius, making it even more desirable for lenders seeking ways to lower costs and increase profits through the use of technology,” Nair added.
IncomeGenius reduces tax return review time by calculating income using OCR-enabled technology, and offers digital transcripts to provide a complete picture of a borrower’s income.
“We highly value partnerships with companies like Indecomm Global Services and recognize that providing lenders a cost-effective, automated product that verifies a borrower’s ability to afford a mortgage is critical, or lenders might be exposed to unnecessary risks and compliance headaches,” Advanced Data Corp. CEO Allen Johnson said.
“Proprietary technology and our unparalleled level of customer service in our ITV division makes this integration with IncomeGenius one that eliminates a pain point that has undermined productivity and is an important advancement for our industry,” Johnson added.