Automated Income Verification Software for All Borrower Types
Verify borrower income in minutes
Effortlessly calculate and verify income for both traditional and non-traditional employment cases. Our automated solution ensures fast, accurate income analysis, empowering lenders to assess risk, set exposure limits, and make confident lending decisions.
Income Verification Made Simple
Speed. Accuracy. Simplicity.
Tired of manual income calculations? Rapidio turns hours into minutes. Whether it’s W-2s, pay stubs, or tax returns, we’ve got you covered. For traditionally-employed or self-employed clients, our system extracts and analyzes data with precision and delivers insights you can trust.
Why guess when you can know? Let Rapidio handle the heavy lifting so you can focus on closing deals.
Coming soon:
- Assets
- Liabilities
- Credit
- Title
- Property
- Closing
Income findings on a silver platter, it's just that easy
Income calculation & eligibility assessment for Non-QM, FHA, Fannie Mae & Freddie Mac
We validate, verify, calculate, and assess guideline eligibility then present the entire income story to your underwriter for review. They make the final assessment.
Arguably, income assessment is a key factor in determining risk. We don’t take that lightly.
Complete income coverage for Non-QM & GSE
Common Scenarios
W2 Income:
- Base Salary
- Commissions
- Overtime
- Bonus
- Seasonal
Self Employed:
- Sole Proprietor
- Partnerships
- LLCs
- C & S Corporations
Less common scenarios
- Interest & Dividend
- Capital Gains
- Farming
- Rental Property
- Trust
- Royalty Payments
- Retirement
- Social Security Retirement
- Disability
- Foster Care
- Alimony
- Separate Maintenance
- Child Support
- Public Assistance
- Temporary Leave
- Foreign
- Tips
- Automobile Allowances
- Housing or Parsonage Allowances
- Military
- VA Benefit
- Notes Receivable
- Mortgage Credit
- Certificates / Mortgage Differential Payments Credits
Built for Brokers, Lenders, and Underwriters by Underwriters
Transform your workflow with a platform designed to meet the needs of every player in the mortgage process
Rapidio simplifies income calculation for brokers, lenders, and underwriters alike, delivering fast, accurate results that save time, reduce costs, and improve client satisfaction.
- For Brokers: Qualify borrowers faster and confidently move deals forward.
- For Lenders: Scale operations effortlessly with automation, cutting costs and boosting productivity.
- For Underwriters: Focus on strategic risk analysis while Rapidio handles the tedious calculations.
- For Everyone: Faster approvals and happier clients with income calculations in under 30 minutes.
Rapidio brings speed, accuracy, and simplicity to the entire mortgage ecosystem. Try it today!
Experience Rapidio with Our Interactive Demo
See Rapidio in Action
Frequently Asked Questions
What is income calculation?
Income calculation is a critical step for lenders to assess a borrower’s capability to repay a loan. This procedure verifies a borrower’s earnings by reviewing documents such as bank statements, pay slips, and tax returns, ensuring an accurate evaluation of their income.
Is Rapidio suitable for all types of lenders, such as banks and credit unions?
Yes, Rapidio is well-suited for a variety of lenders, including banks, IMBs, mortgage brokers, and mortgage insurance companies. Its FlexStack components integrate seamlessly into different loan manufacturing processes, offering scalability and preventing overspend on technology at the loan level. Designed by underwriters, Rapidio provides the control, reliability, and flexibility needed to meet the evolving demands of today’s mortgage industry, ensuring it’s a valuable tool for institutions of all sizes.
What exactly does Rapidio do?
Rapidio streamlines the essential phases of mortgage loan approval: Document Indexing, Data Reviewing, and Income Analysis. Tailored to simplify the workload for loan officers, Rapidio automates the traditionally manual and labor-intensive tasks, enhancing efficiency and productivity.
How does Rapidio improve efficiency?
Rapidio can boost your workflow efficiency by up to 80%. It saves underwriters 1-3 hours per loan and elevates the application pull-through rate by 40%.
What types of documents can Rapidio handle?
Forget about bookmarking! Rapidio is highly versatile, capable of organizing and evaluating all income-related documents, including pay stubs, personal and business tax returns, bank statements, 1099s, W2s, and beyond.
Is Rapidio compliant with industry standards?
Definitely. Rapidio adheres to Fannie Mae Form 1084 and Freddie Mac Form 91, guaranteeing compliance with rigorous regulatory standards.
How does Rapidio ensure accuracy?
Rapidio utilizes cutting-edge, LLM-powered algorithms for accurate data extraction and income analysis, complemented by a Human-in-the-Loop review process for enhanced precision.
What makes Rapidio different from other solutions?
Rapidio isn’t merely a tool; it’s an all-encompassing solution. It goes beyond automating tasks by increasing their precision, empowering you to make well-informed, data-driven decisions.
