Leave the Income Calculation to Us
Real-Time Accuracy, Every Time
Experience the next generation of income verification with Rapidio. Our platform automates the once-laborious tasks of indexing, reviewing, and analyzing income documentation, freeing you to focus on what you do best. Leveraging state-of-the-art AI and ML technology, we provide loan officers, brokers, and underwriters with instant, error-free income calculations. This ensures precision and speed at every stage of the application process, enabling you to offer your clients a seamless borrowing experience rooted in reliable data.
Classify, Extract, and Process Income Documents Like Never Before
Verify borrower income in minutes
Transform your underwriting process with our automated income verification software. Designed for both traditionally-employed and self-employed borrowers, our solution analyzes pay stubs, W-2s, tax forms, award letters and much more, offering deep insights into various income types.
- Minute-By-Minute Processing: Classify, extract, and analyze complex mortgage documents in a fraction of the time, thanks to our sophisticated ML algorithms.
- Beyond Speed: It’s not just about being fast; it’s about being right. We ensure the highest data accuracy for peace of mind and compliance.
- Data-Driven Decisions: Transform raw data into actionable insights with Rapidio’s deep analytical capabilities, offering clarity and confidence in every step.
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, 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
Designed by Underwriters, for Underwriters
Underwriters are one of your most valued resources. Don’t waste their time with simple data extraction and data entry tasks.
Our Income Calculation solution reduces the cost and time spent reviewing mortgage origination documents, resulting in quicker loan turnaround times and higher customer satisfaction.
- Quick & Accurate Document Handling: Rapidio streamlines document processing, providing accurate results swiftly for early approval stages.
- Time-Saving Processing: Over 90% of applications processed in under 30 minutes, setting a new industry benchmark for speed and efficiency.
- Strategic Resource Allocation: Rapidio enables your team to focus on high-value tasks by automating document-intensive steps.
- Scalable Solutions: Our AI-driven system adapts to fluctuating volumes, offering reliable scaling without the need for extra staffing or hardware.
- Enhanced Client Support: With Rapidio, empower your clients by speeding up their document processing, allowing them to redirect resources to non-automatable aspects of mortgage underwriting.
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.
