- Indecomm’s IncomeGenius integrated with Advanced Data Income Tax Verification 4506-T Service
- The integration provides mutual clients with efficient access to digital tax returns
- Advanced Data partnership brings additional efficiency to the underwriting process
Edison, NJ – May 24, 2017 – Indecomm Global Services, a leading provider of business process as a service (BPaaS), software as a service (SaaS) technology, and learning products for the mortgage industry, and Advanced Data, mortgage industry leader in enterprise-wide fraud prevention and enhanced verifications, announced today a technology integration alliance. The partnership enables mutual clients to digitally use tax return transcripts through IncomeGenius, Indecomm’s web-based income analysis platform using Advanced Data’s Income Tax Verification (ITV) service. That data is then combined with other borrower income data from the OCR capabilities in IncomeGenius to create a complete
“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,” said Rajan Nair, CEO, Financial Services, Indecomm Global Services. “These are bottlenecks in the mortgage origination process and overcoming these constraints can enhance the efficiency of the entire system.”
“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,” Nair said. “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.”
IncomeGenius enhances the loan origination process, reducing tax return review time by as much as fifty percent. It simplifies the task of calculating income by using OCR enabled technology, and now offers digital transcripts to provide a complete picture of a borrower’s income. The system can read and analyze borrower income documents and calculate qualifying income associated with the mortgage loan in a consistent manner. IncomeGenius alerts users of possible red flags to allow preemptive intervention.
“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,” said Allen Johnson, CEO of Advanced Data Corporation. “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.”
About Indecomm Global Services
Indecomm offers consulting, outsourcing, learning, and technology solutions to its clients in the financial services, hi-tech, life sciences, education, and publishing verticals. Indecomm combines technology platform-driven outsourcing solutions with a flexible delivery model. Indecomm helps its clients improve profitability, gain time-to-market advantage, and achieve immediate return-on-investment. Indecomm was founded in 2003 and has been consistently ranked amongst the Global Top 100 IT and ITeS providers for over a decade. With over 3,500 associates worldwide, Indecomm services its clients from global delivery centers and offices in the United States, Costa Rica, the United Kingdom, India, Malaysia, Singapore, Indonesia, the Philippines, Mauritius, and the Cayman Islands. For more information, visit www.indecomm.com. Contact Indecomm by email at email@example.com or call (732) 404-0081. Read more Indecomm news at the Indecomm Newsroom.
About Indecomm Mortgage Services
Indecomm Mortgage Services is a trusted partner of top lenders and servicers, providing them with quality assurance, risk management, and loan fulfillment services. Indecomm’s title and settlement services platform-based solutions include title search and typing through iTitleHub™, post-closing through Dynamic Doc Hub™, eRecording through InteleDoc Direct™ and mail-away recording supported by Indecomm’s recording website. Indecomm-Mortgage U is a close collaboration between Indecomm Mortgage Services and Indecomm Learning. The Indecomm-Mortgage U Health Check enables companies to ensure compliance with current regulations and anticipate the impact of new ones.
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About Advanced Data
Advanced Data is recognized as the standard for enterprise-wide mortgage data integrity, specializing in fraud prevention and enhanced verifications. Its proprietary technology is integrated with loan origination systems, and the firm offers a SaaS platform for clients that prefer a custom solution. Its services include eTax Verification Form 4506-Ts, streamlined verifications and re-verifications of employment, fraud reports, social security number verifications, AVM plus property inspection, and flood zone determinations. Advanced Data’s proprietary Fraud Report identifies each loan’s fraud risk before and after funding. The firm prides itself on delivering superb customer service, hiring experienced employees, and developing customized, sophisticated technology. It’s one of the only firms in its sector to employ an in-house development group, which ensures its technology provides a competitive advantage to clients and can be customized to their needs. For more information, visit advanceddata.com.
For Advanced Data:
OnPoint PR and Consulting LLC
Income Verification Division
Advanced Data Corporation