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Income
Automated income verification software for consumers with diverse employment profiles
Calculate and verify income for a variety of use cases, including both traditionally and non-traditionally employed borrowers with automated income verification software.
Lenders need to estimate and verify applicant income in order to manage risk, determine exposure limits, and assess their ability to pay.
Verify borrower income in minutes
Ocrolus automated income verification software goes beyond digitizing data, generating pre-defined analytics to help lenders determine a borrower’s creditworthiness.
Our automated income verification software supports multiple income calculations for traditionally-employed and self-employed borrowers using documents such as pay stubs, W-2s and other tax forms, pension award letters, and Social Security award letters.
Develop robust, data-driven income verification
Ocrolus bank statement, paystub, and tax form powered income analytics provide lenders detailed insight into the nature of income, from salaried vs. hourly, to single vs. multiple jobs, to traditional vs. gig employment.
Increase loan originations with an expedited underwriting process
Sophisticated and automated income verification helps lenders speed up the entire underwriting process for a better, faster borrower experience.
Ready to go?
Find out how we can help you automate income verification and calculations to accelerate underwriting and scale your lending business.
We're enhancing the Blend platform with Ocrolus' automated, accurate document classification and data extraction capabilities. Our partnership with Ocrolus enables us to swiftly deliver time-saving innovations to our customers.”
Frequently Asked Questions
Income verification is the way in which a lender determines if a borrower has the ability to make payments on a loan. This process includes the verification of how much a borrower earns through the assessment of documents like bank statements, paystubs, and tax forms.
Lenders verify income by requesting and collecting documentation such as paystubs, bank statements, W-2s, tax forms and others. Those documents are then uploaded and scanned through automated income verification software such as Ocrolus to validate the income and help lenders determine a borrower’s creditworthiness.
Banks can verify income for a mortgage through documentation such as paystubs, bank statements, W-2s, tax forms and others. Those documents are then uploaded and scanned through an income verification solution such as Ocrolus to validate the information and enable lenders to determine a borrower’s creditworthiness.