New product can speed up the income analysis process to less than an hour
Sprout Mortgage has launched iAnalyze, an “originator-focused” mortgage tool designed to help brokers and lenders quickly analyze a borrower’s qualifying income.
The company claims that the new non-QM bank statement analyzer tool is the first of its kind in the industry.
Sprout Mortgage chief information officer Henry Santos described iAnalyze as “an easy-to-use, secure, AI-driven analysis solution that replaces a process which until now could involve a team of analysts and require a day or more to receive the results.”
According to the non-QM lender, the tool can sort out up to two years of bank statements to produce an automated income calculation from the transaction history in less than an hour. iAnalyze is created for third-party loan originators to help them streamline the process of income analysis required for bank statement-based loans.
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“Once again, Sprout Mortgage technology is making it easier for mortgage brokers and correspondent lenders to grow their business by helping them meet the needs of their clients with less effort,” said Sprout CEO Michael Strauss.
iAnalyze will be available to the Sprout client network in early November.
