How do I use LoanBeam?

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Subsequently, how accurate is LoanBeam?

Extracts and ingests data from tax documents with 99.7% accuracy.

Beside this, how are self employed borrowers calculated? They calculate your income by adding it up and dividing by 24 (months). For example, say year one the business income is $80,000 and year two $83,000. The income used for qualifying purposes is $80,000 + $83,000 = $163,000 then divided by 24 = $6,791 per month.

Hereof, how do I upload a file to encompass?

Upload an attachment

  1. Select the entity.
  2. Open the Details panel.
  3. Expand Documents.
  4. Click on Add attachment.

How do you use a loan beam in encompass?

Accessing LoanBeam

To submit a LoanBeam request from within Encompass, first open the loan file, click on the Services tab on the lower left, and then click on Order Additional Services. From the My Providers list, select “LoanBeam” and click Submit.

2 Related Question Answers Found

What does LoanBeam do?

LoanBeam drastically reduces the time loan officers, processors and underwriters spend calculating and reviewing the qualifying income of a borrower. Using Optical Character Recognition (OCR) technology, LoanBeam exports data from tax return PDFs to an Excel file that automatically calculates qualifying income.

What is Pointserve?

Pointserve is a leading provider of Economic Resource Optimization (ERO) solutions that enable companies to optimize the economic performance of their entire service supply chain.

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