Sprout Mortgage Unveils Another Innovative Tool to Automate the Loan Approval Process
EAST PRAIRIE, NY, October 15, 2021 / PRNewswire / – Sprout Mortgage Strengthens Its Robust Line Of Automation Tools For A Fully Digital Mortgage Experience With The Release Of Its Third Originator-Driven Mortgage Tool. Sprout will unveil iAnalyze, the first such non-QM bank statement analysis tool, at the Mortgage Bankers Association’s annual gathering in San diego, california, October 17-20, 2021. iAnalyze helps mortgage brokers and correspondent lenders receive an immediate analysis of a borrower’s qualifying income and is the latest in a suite of industry-leading AI and process digitization tools from Sprout.
New iAnalyze Sprout Mortgage’s tool, the innovative force in jumbo and non-QM residential loans, analyzes up to two years of bank statements to determine qualifying income in a process that can take less than an hour. iAnalyze digitally consumes bank statements that are downloaded easily and securely. Its proprietary machine learning algorithm reads bank statements and produces an automated income calculation from the transaction history. It is designed for third party loan originators to eliminate the tedious and time consuming process of analyzing the income required for bank statement based loans. Bank statement loans have long been a staple of the non-QM market and are designed to help people with non-traditional income sources access homeownership for residential or investment purposes.
“Once again, Sprout Mortgage’s technology makes it easier for mortgage brokers and correspondent lenders to grow their businesses by helping them meet the needs of their clients with less effort,” said Michel strauss, CEO of Sprout Mortgage.
“iAnalyze is an easy-to-use, secure, AI-powered analytics solution that replaces a process that until now could involve a team of analysts and take a day or more to receive results, ”said Henri santos, chief information officer and executive vice president of Sprout.
Growing suite of easy-to-use solutions for mortgage professionals
iAnalyze is the third and newest addition to the growing suite of Sprout technologies, which is part of a suite of automation tools slated for release in 12 months. iAnalyze joins two other iconic and innovative tools provided by Sprout Mortgage to fulfill its commitment to bring speed and simplicity to the real estate finance industry. The first one, iQualifi, allows mortgage brokers and bankers to easily determine the most suitable loan program and instantly price scenarios for clients. The second, GLANS, is Sprout’s proprietary Automated Underwriting System (AUS) used to create Prime Jumbo and non-QM loans with the ease of DU and LP. The full line is designed to streamline lending processes for mortgage brokers and correspondent lenders, helping them fuel their own business growth from the growing demand for non-QM financing.
iAnalyze will be unveiled at the annual MBA conference. It should be widely available on the Sprout customer network in early November.
About the Sprout Mortgage
Founded in 2016, Sprout Mortgage is a leading national jumbo and non-QM lender whose innovative products, powerful technology and precision underwriting deliver exceptionally good real estate financing solutions to consumers, investors and brokers whose needs are generally not met by other mortgage companies. For more information, please visit www.sproutmortgagewholesale.com or www.sproutcorrespondent.com, or call 844-664-6100.
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SOURCE Sprout Mortgage