Form 1040, Monthly Cash Flow, Personal Financial Statement

Credit Analysis provides you with several tools for analyzing the debt or financial situation of your guarantors or other parties.

  1. The Monthly Cash Flow provides a simple, easy-to-use debt-to-income ratio calculation.  Your monthly expenses can be itemized, and you have the option to enter the monthly payment on a new proposed loan for comparison of a current debt-to-income ratio to the proposed debt-to-income ratio.
  2. The Form 1040 allows you to input the data from a personal tax return.  You can also input debt information in order to calculate a debt service coverage ratio.
  3. The Personal Financial Statement includes supporting schedules for assets and liabilities.  The schedules are dynamic, so you can input as much information as necessary in schedules such as debts, real estate owned, other assets, and more.
Our Lunch and Learn session on March 6th was on these spread formats.  Click here to view this session (log-in to the Customer Portal required).  Lunch and Learn sessions are FREE training sessions held on the first and third Wednesday of every month and conducted by our knowledgeable training staff.

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FAQs

How does a loan origination system work?

An LOS is defined as a system that automates and manages the end-to-end steps in the loan process – from the application, through underwriting, approval, documentation, pricing, funding, and administration.

What is the difference between loan origination and underwriting?

A loan officer is someone who works for a bank or credit union or other financial institution and offers loans to borrowers, while an underwriter is someone who analyzes documents from potential borrowers to determine if they are eligible for a loan.

What are the benefits of loan origination software?

By now, lenders are well versed in the benefits of a digital loan origination system, such as: Providing borrowers with easy, streamlined, and digital applications. Providing bankers with automating spreading and financial analysis tools.