Income Analytics
Get more insight into applicant income
Make more precise decisions, and better manage risk with new analytics that give more detail about an applicant’s ability to pay.
How it works
Income Analytics provides a set of calculated data points derived from Truework verified income data to help lenders more easily evaluate ability to pay and trends in applicant income.
Annualized Income
- Quickly understand how much an applicant makes on an annual basis
- A normalized calculation of what an applicant’s income would be for a whole year based on an observed period
- Represented as either base annual gross income or total annual gross income, inclusive of variable income
Income Stability
- Understand the variability in monthly income as an indicator of ability to repay.
- Represented as the coefficient of variation that shows the extent of variability in an applicant’s monthly income for the last 12 months
Benefits
More competitive terms
Give a more favorable rate with insight into income stability.
Automate exceptions
More confidently approve exceptions to initial down payments or missed payments in servicing.
Get started quickly
Easily incorporate new data points into your existing processes, without internal data science resources.
Ready to get started?
Check out the documentation, or speak to our team directly.
