What is Loan Beam?
It is a software solution developed with an aim to drastically reduce the time that it takes for loan officers, processors and underwriters to calculate and review the borrowers qualifying income.
What are LoanBeam’s minimum system requirements?
Since LoanBeam’s production servers handle most of the heavy number crunching at the back-end, so the LoanBeam software can be run on almost any PC with an internet connection and Microsoft Excel package installed. You won’t be needing a server since all image processing occurs within the application installed on your PC. It supports the following OS, hardware, and software versions in current:
• Windows XP Professional SP3
• Windows XP Professional SP2
• Windows XP Professional SP1
• Windows Server 2008
• Windows Server 2003
• Windows Vista (both 32 bit and 64 bit Version)
• Windows 7.0 (both 32 bit and 64 bit Version)
• Windows 8
• Windows 10
• Version 4.0 or higher
• 2 GB RAM (4 recommended)
• 1024 x 768 resolution or higher
• MS Excel 2007
• MS Excel 2010
• MS Excel 2013
What file types can I upload to LoanBeam
LoanBeam supports both PDF and TIFF file format while uploading the borrowers’ tax documents.
Do I need training?
LoanBeam has an intuitive and easy to use interface and makes the maximum use of your existing knowledge of Excel. In case, one feels the need for training, LoanBeam does offer formal training services, so as to ensure a smooth implementation and maximum ROI for the customer.
Recommended Scanner Settings for Optimal Performance
For the best results and highest accuracy, following scanner settings are highly advised:
- 300 DPI
- Black and White ONLY (no color, no grayscale)
- TIFF or PDF file formats ONLY.
- Pages must be scanned at letter size and not the legal size.
- If a “Deskew” setting is available on your scanner, it should be used.
- Originals should be scanned whenever possible (photocopies or faxes not preferred) to ensure highest-quality scans and reduce the chance of any unexpected read errors.
- Pages must be intact (without any hole punches).
- Pages must be uncovered (minus tape or sticky notes).
- Pages should be free from extraneous marks (minus strikethroughs or checkmarks).
- K-1s should be placed at the end of the documents in order to be scanned properly.
- Page 1 of the K1 should be first, with supplemental pages after page 1.
Important Piece of Advice
There are a whole lot of things that need to be taken care of, in order to get the best out of LoanBeam Package during the course of its use. Keep on visiting this page for more updates.