LoanBeam Revenue and Competitors

LoanBeam drastically reduces the time loan officers, processors and underwriters spend calculating and reviewing the qualifying income of a borrower. Using Optical Character Recognition (OCR) technology, LoanBeam exports data from tax return PDFs to an Excel file that automatically calculates qualifying income. LoanBeam users may select from standard qualifying income calculation formats [e.g. Fannie Mae Form 1084, etc.] or create their own custom format. LoanBeam also identifies any additional documents still needed from the borrower [i.e. K-1s and business tax returns]. Each amount in the Excel based qualifying income report is referenced to its source document for easy review.