Sprout Mortgage Unveils Another Innovative Tool to Automate the Loan Approval Process | New

EAST MEADOW, NY, October 15, 2021 /PRNewswire/ — Sprout Mortgage is bolstering its robust suite of automation tools for a fully digital mortgage experience with the release of its third originator-focused mortgage tool. Sprout will unveil iAnalysisthe first non-QM bank statement analysis tool of its kind, at the Mortgage Bankers Association Annual Gathering in San Diego, California, October 17-202021. iAnalysis helps Mortgage Brokers and Correspondent Lenders receive immediate analysis of a borrower’s qualifying income and is the latest in a series of industry-leading process digitization and AI tools from Sprout.

New iAnalysis The tool from Sprout Mortgage, the innovative force in jumbo and non-QM home loans, analyzes up to two years of bank statements to determine eligible income in a process that can take less than an hour. iAnalysis digitally consumes bank statements which are uploaded easily and securely. Its proprietary machine learning algorithm reads bank statements and produces an automated income calculation from transaction history. It is designed for third-party loan originators to eliminate the cumbersome and tedious process of revenue analysis required for bank statement-based loans. Bank statement loans have long been a staple of the non-QM market and are designed to help people with non-traditional sources of income access property for residential or investment purposes.

“Once again, Sprout Mortgage technology makes it easier for mortgage brokers and correspondent lenders to grow their business by helping them meet their clients’ needs with less effort,” said Michael Straussmanaging director of Sprout Mortgage.

iAnalysis is an easy-to-use, secure, AI-powered analytics solution that replaces a process that until now could involve a team of analysts and take a day or more to receive results,” said Henry SantosSprout’s CIO and Executive Vice President.

Growing Suite of Easy-to-Use Solutions for Mortgage Professionals

iAnalysis is the third and final addition to the growing suite of Sprout technologies, part of a line of automation tools scheduled for release over 12 months. iAnalysis joins two other iconic and innovative tools provided by Sprout Mortgage to fulfill its commitment to bringing speed and simplicity to real estate financing activities. The first one, iQualifi, allows mortgage brokers and bankers to easily determine the most suitable loan program and instantly set pricing scenarios for clients. The second, GLANS, is Sprout’s proprietary Automated Underwriting System (AUS) used to originate Prime Jumbo and non-QM loans with the ease of DU and LP. The full line is designed to streamline lending processes for Mortgage Brokers and Correspondent Lenders, helping them fuel their own business growth through the growing demand for non-QM financing.

iAnalysis will be unveiled at the annual MBA conference. It should be widely available to the Sprout customer network in early November.

About the Sprout Mortgage

Founded in 2016, Sprout Mortgage is a leading national jumbo and non-QM lender whose innovative products, powerful technology and precision underwriting deliver exceptionally good real estate financing solutions to consumers, investors and brokers whose needs are generally not met by other mortgage companies. For more information, please visit www.sproutwholesale.com or www.sproutcorrespondent.com, or call 844-664-6100.

CONTACT:

Thomas Walek

Peak Strategies

[email protected]

917-353-7575

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