QM or non-QM, today's borrower affordability analysis needs to be a documented science instead of an art varying by the person performing it. Standardized, documented analysis rules, process and results are key to proving your unbiased due diligence on each borrower's ability to repay now, continuance probability and to protect your bottom line.
FACTCheck™ creates meaningful, standardized intelligence in minutes on income, asset and appraisals found in every loan file for Ability-to-Repay (ATR) income and asset compliance, and QM debt-to-income (DTI) validation and documentation. Tax transcripts become an easy, vital part of your risk management strategy.
Underwriters can focus their time on "gray areas" and more difficult situations. Document collection can be done by processors and assistants.