Streamline mortgage income calculations with Ocrolus

Unlock automated income calculation for mortgage lending with Ocrolus

Say goodbye to manual income calculations and embrace streamlined accuracy with Ocrolus’ advanced income analytics. Our latest Analyze product enhancements provide mortgage lenders with powerful, automated calculations for wage earners, self-employed individuals, rental income and passive income streams.

Key takeaways

• New Income Summary Dashboard: View borrower income distribution at a glance, broken down by source and borrower contribution.
• Automated income calculations: Supports W2 wage earners, self-employed borrowers (1040s, 1120s, 1065s), rental income and passive income sources like Social Security and pensions.
• Six different calculation methods: Includes year-to-date, multi-year averages and newly added recent year methods tailored to government loan programs.
• Customization & flexibility: Adjust extracted values, merge duplicate income sources and toggle between document sources to refine calculations.
• Compliance & transparency: Keep track of all changes with the audit-friendly change log and collaborate seamlessly using built-in comments and alerts.

Streamline income calculations for faster mortgage approvals

Determining borrower income can be one of the most time-consuming and error-prone aspects of mortgage underwriting. Ocrolus’ Analyze product transforms income evaluation with automation, accuracy and transparency.

What’s new?

Ocrolus has launched a dedicated Income Summary Dashboard that consolidates all borrower income sources, providing a quick book-level overview of borrower earnings. Lenders can toggle between borrowers, adjust income values and analyze multiple income sources—all from a single view.

How does it work?

• Automated data extraction: Ocrolus scans and extracts key values from pay stubs, W2s, 1040s, Schedule E, 1065s and pension award letters.
• Comprehensive income types: Whether your borrower is a W2 employee, self-employed, a rental property owner or receives passive income, Ocrolus automatically calculates income based on industry best practices.
• Customizable calculation methods: Choose between monthly income, year-to-date, multi-year averages and government loan-specific methods to fit your underwriting requirements.
• Automated alerts & recommendations: Get notified about missing documents, non-recurring income exclusions and employer verification issues—all in real-time.
• Seamless adjustments: Lenders can edit extracted values, merge employer records, switch document sources and manually override calculations when needed.

These automation capabilities eliminate tedious manual calculations, reduce human error and ensure compliance—giving underwriters more time to focus on decision-making instead of number-crunching.

Ready to optimize your mortgage workflow?

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