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Asset and Income Modeler

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Loan Product Advisor® asset and income modeler (AIM) is our solution for automating the manual processes of assessing borrower assets and income. AIM uses the expertise of third-party service providers to help reduce the burden of traditional documentation to simplify the loan origination process, drive efficiency and improve the borrower experience – giving you a competitive edge.

Simplify the Underwriting Process with AIM – Get Your Edge

AIM helps you:

  • Reduce the burden of traditional documentation
  • Close your loans faster
  • Obtain representation and warranty relief related to certain borrower employment income and/or assets
  • Create a better home financing experience for your borrowers

How AIM Works – 3 Simple Steps

  1. You request a verification report of the borrower's asset or income information from a designated third-party service provider
  2. Loan Product Advisor retrieves the verification report and performs an assessment for rep and warranty relief eligibility
  3. Loan Product Advisor returns the results of the assessment in the Feedback Certificate

Asset Assessment

Eligibility

The loan must be:

  • A conventional mortgage
  • Delivered through Loan Selling Advisor® as a Loan Product Advisor mortgage

Eligible Asset Types

  • Checking accounts
  • Savings accounts
  • Money market accounts
  • Borrower's business checking, savings and/or money market accounts

Ineligible Asset Types

  • Gift funds
  • Cash on hand
  • Assets that will be used by the borrower for repayment of the borrower's monthly obligations

Income Assessment

Eligibility

The loan must be:

  • A conventional mortgage
  • Delivered through Loan Selling Advisor as a Loan Product Advisor mortgage

Eligible Income Sources

  • Base non-fluctuating employment earnings
  • Fluctuating hourly employment earnings
  • Overtime income
  • Bonus income
  • Commission income with less than 25% of the income from the commissioned employment

Ineligible Income Sources

  • Military pay
  • Earnings of a borrower employed by a family member, the property seller, real estate broker or other party associated with the transaction
  • Employment income from foreign sources


Asset and Income Modeler (AIM) Service Providers

Solution Service Provider Availability
AIM for self-employed LoanBeam March 6, 2019
Direct deposit income Finicity Limited Release
FormFree Limited Release
AIM for income Equifax (The Work Number)*

Equifax resellers
December 9, 2018
AIM for assets Finicity December 9, 2018
FormFree December 9, 2018
Yodlee December 9, 2018
PointServ Limited Release

*Sellers can opt-in to authorize Loan Product Advisor to obtain income assessment reports on all loans submitted or leverage the Report ID field to order on a loan by loan basis.

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