Automated W-2 processing helps brokers quickly assess income for a range of loan types
A&D Mortgage has rolled out a new income calculator within its AIM Partner Portal that could make life easier for brokers handling loan applications.
The updated feature allows brokers to upload a borrower’s W-2 directly into the system, where AIM’s automated tool calculates the borrower’s monthly income and estimates the loan amount they could qualify for.
The calculator supports conventional, non-QM full doc, and soon, government-backed loans. The tool is intended to speed up the application process and minimize the errors that often come with manual income calculations.
The development is part of A&D’s broader strategy to improve the broker experience by incorporating tools that simplify and streamline the lending process across a range of loan products, the company said.
“We are excited to offer this cutting-edge feature in AIM to further enhance the experience for our partners,” said Max Slyusarchuk, CEO of A&D Mortgage. “Our goal is to streamline every step of the loan qualification process, and the ability to upload W-2s for income calculation is just one more way we're empowering brokers to provide their clients with faster, more efficient service.”
Read next: A&D Mortgage welcomes two new wholesale lending leaders
In another expansion effort, A&D Mortgage recently formed a joint venture partnership with Atlas Merchant Capital to grow its $7 billion mortgage securitization platform. The partnership, combining internal and third-party capital, focuses on purchasing and securitizing mortgage loans from A&D and other lenders.
The joint venture’s first residential mortgage-backed securities (RMBS) transaction, completed last month, closed with $370 million in mortgage collateral. The transaction marked A&D’s 21st securitization effort but was the first one completed in partnership with Atlas.
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