SettlementOne Automates Income Verification With Halcyon Income Analyzer Integration
SettlementOne, a provider of credit reporting, data, and verification solutions for the mortgage industry, announced an innovative partnership with Halcyon to eliminate one of mortgage lending’s most persistent bottlenecks: manual income calculation.
The Halcyon Income Analyzer transforms what typically takes underwriters hours, calculating income and ensuring agency compliance, into a streamlined, automated process.
“Every lender knows the frustration: a loan officer waiting on income calculations, an underwriter buried in tax returns, and a borrower anxiously checking their email,” said Michael Lord, President at SettlementOne. “With Halcyon’s Income Analyzer, what used to take hours or even days now happens in minutes, with greater accuracy and full compliance built right in.”
Leveraging Halcyon’s industry-leading 8821-based IRS tax transcript service, Income Analyzer pulls verified data directly from the tax transcripts and automatically calculates qualifying income according to agency guidelines. In addition to quick processing, its other key advantages include direct integration with Fannie Mae, ensuring eligibility for representations and warranties relief, flexible access through Encompass or SettlementOne’s web portal, calculations that follow Fannie Mae and Freddie Mac guidelines for bulletproof compliance, and comprehensive audit trails and file locking that prevent errors and ensure data integrity.
“This automated approach dramatically reduces income calculation time while improving accuracy,” added Lord. “But the real win is faster approvals and a smoother path to homeownership for borrowers.”
The web-based platform provides access to all income data in one centralized, user-friendly interface with minimal input required. The Halcyon Income Analyzer is now available to all SettlementOne clients through their existing platform.
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