Key facts
- LoanLight automates income, asset, credit, and appraisal reviews.
- The system traces findings to source documents and applies guidelines.
- It integrates with Encompass or can be tested via a portal.
LoanLight is an AI-native system designed to automate the preparation of non-QM loan files for underwriting. The platform performs automated checks, calculations, and document analysis, including income, asset, credit, and appraisal reviews. It aims to reduce manual review by verifying document health, data accuracy, creditworthiness, and property details, while also ensuring adherence to program-specific guidelines. The system continuously monitors files from submission to closing, providing a final review before a clear-to-close decision and attaching evidence for any exceptions. LoanLight can integrate with Encompass or be tested through its portal.