Kirk Donaldson, CEO of Halcyon, discusses the company's innovative approach to addressing income validation failures in the mortgage industry. With six out of ten post-close validations failing, Halcyon's partnership with Fannie Mae introduces a groundbreaking Income Calculator that utilizes IRS transcripts to enhance efficiency and data quality. Donaldson notes that their solution arose organically while developing tax preparation automation, ultimately providing a streamlined experience that not only mitigates repurchase risks for lenders but also leverages a better authorization system to reduce transactional errors.
Kirk Donaldson, in his conversation, reveals that Halcyon’s innovative integration with Fannie Mae aims to tackle widespread failures in income validation within the mortgage industry.
Halcyon has revolutionized the income validation process by leveraging IRS transcripts and creating a more efficient data exchange, which addresses high failure rates.
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