Loan Product Advisor asset and income modeler for self-employed is Freddie Mac’s solution for automating a lender’s income assessment of this growing borrower segment. AIM eliminates the need to manually input tax return information and perform the income calculation. It is also the only fully integrated AUS income and asset assessment solution covering asset and income for W2 and self-employed borrowers.
- Eight to 10 day reduction in time from application to close
- One bank in Kansas City reduced cycle time from 33 to 22 days on conventional loans
- Same bank also reduced the number of loans needing income changes — from application to underwriting — from 60% of the time to less than 2% since adopting AIM for self-employed.