"Built on capabilities acquired from Baleen, the technology is designed to help mortgage lenders evaluate complex income scenarios more quickly and consistently. The deal comes as borrower income profiles grow more complex, said Shelley Leonard, president of Xactus. Self-employed income has long been one of the most challenging areas to evaluate consistently, Leonard said in a statement. Baleen's technology strengthens our ability to deliver intelligent verification at scale, helping our clients reduce manual effort while improving transparency, documentation, and efficiency."
"Baleen's proprietary technology automates income analysis by extracting and organizing data from tax documents. Once integrated into Xactus360, Income CalculationX will use machine-driven document recognition to process tax records without human involvement, creating an auditable workflow between loan originators and underwriters while improving efficiency and consistency. Baleen previously announced a collaboration with Fannie Mae aimed at streamlining income calculation workflows for lenders. This acquisition represents a shared vision for how verification should work, said Zac Campeau, CEO of Baleen Solutions."
Xactus acquired technology capabilities from Baleen to enable mortgage lenders to evaluate complex income scenarios faster and more consistently. Borrower income profiles are becoming more complex, and self-employed income remains a particularly challenging area to evaluate consistently. Baleen's proprietary tools automate income analysis by extracting and organizing data from tax documents and applying machine-driven document recognition to process tax records without human involvement. The integration into Xactus360 creates an auditable workflow between loan originators and underwriters, reduces manual effort, and improves transparency, documentation, efficiency, and consistency. The move builds on Baleen's prior collaboration with Fannie Mae.
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