A Spotlight on Innovation for Self-Employed Borrowers
We are thrilled to share that Baleen Solutions was recently featured on South Carolina Public Radio’s SC Business Review! The segment, hosted by Mike Switzer and featuring insights from serial entrepreneur John Warner, highlights the innovative solutions we’re bringing to the market to assist self-employed and contract workers.
A Game-changer for self-employed income verification
In the interview, Warner discusses the challenges faced by self-employed individuals and business owners when trying to qualify for a mortgage. Traditional mortgage applications typically require W-2s, which clearly document a stable income. However, for self-employed individuals, income is often reported on Schedule C, K1s, or other IRS forms, making it difficult to demonstrate the necessary cash flow.
This is where Baleen Solutions steps in. Our AI-powered platform automates the transcription of tax return data into a format that can be seamlessly integrated with the Fannie Mae income calculator. This innovation not only streamlines the process for mortgage lenders but also ensures that self-employed borrowers get credit for all of their income.
Enhancing Cash flow analysis for mortgage lenders
One of the key benefits of our solution is its ability to enhance cash flow analysis for mortgage lenders. By automating the data extraction and transcription process, lenders can accelerate their sales pipeline, improve productivity, and increase profitability. The result is a more efficient and accurate assessment of a borrower’s self-employed income, making it easier for all parties to move forward confidently.
Proud to be a part of South Carolina’s innovative business community
We are incredibly proud to be recognized for our contributions to solving real-world problems for self-employed individuals. Our collaboration with Fannie Mae and the positive feedback from industry leaders like John Warner reinforce our commitment to delivering top-tier solutions that address the unique challenges faced by today’s workforce.
Listen to the full interview
For more insights, we encourage you to listen to the full segment on SC Business Review. You can find the episode on South Carolina Public Radio’s website or wherever you get your podcasts.
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