Business Health Check
Automated comparison of business current income stream to historical tax return data
When assessing the creditworthiness of self-employed loan applicants, mortgage lenders must ascertain whether borrowers’ income is stable. The financial impacts of COVID-19 on small businesses and households in the United States only underscores the importance of this assessment, which has traditionally been a manual and subjective process. With the newly released Business Health Check solution, mortgage lenders gain access to intuitive analytics, trends, inferences, and red flags on self-employed borrowers’ income.
Indecomm has partnered with ability-to-pay fintech FormFree® to introduce Business Health Check, an automated analysis of self-employed loan applicants’ current business income and expense streams that helps mortgage lenders make better-informed loan qualification and underwriting decisions.
Calculated using Indecomm’s IncomeGenius® and validated against business bank account information via FormFree’s AccountChek®, Business Health Check provides mortgage lenders with a uniform, document-free approach that encourages consistency while reducing risk and delivering key insights.