Easier, Faster & More Secure Bank Statement Calculations

A Revolutionary Bank Statement Analysis Tool

Income IQ is a first-of-its-kind Bank Statement Analysis tool, designed to reinvent the way brokers and loan officers review self-employed borrower income. Integrated directly within the Newfi Wholesale BLU Broker Portal, Income IQ automates the bank statement calculation process, delivering a faster, more secure detailed income analysis in no time!

Benefits of Using Income IQ 

Reliable Income Analysis

Results will alert users to any missing bank statements, calculate based off of percentage of business owned, run analysis on personal or business bank statements, and show deposit calculations for 12 or 24 month bank statement programs.

Intuitive Self-Serve Platform

Brokers can submit bank statements directly into Newfi’s broker portal BLU and get results in minutes 24/7.

Borrower Data Protection

Avoid emailing sensitive borrower information by submitting bank statements securely through the broker portal.

Speed To Calculate Income

Receive income analysis results in a fraction of the time—no more back-and-forth. Just simple, clean results delivered to the broker.

Keep Track of Your Loans In Process

Income IQ keeps record of each income analysis completed and allows loan officers to register a loan when they’re ready directly from the results screen.

Use Income IQ On Your Next File!

Income IQ Knowledge Center

Check out our Income IQ Knowledge Center for a full walk-through tutorials designed for however you learn best.

Read our Walk-Through Article

How to Submit Bank Statements for Income Calculations

Download the How-To PPT

How to Submit Bank Statements for Income Calculations Powerpoint

Income IQ is a major leap forward in Non-QM lending technology and leveraging automation to provide a lift in the loan process. Newfi is leading Non-QM innovation and pushing the boundaries of what’s possible in mortgage lending technology.  

– Amit Pall

EVP, Technology & Production Support

Why Brokers Love Income IQ

Secure Submission for Borrower Data

Avoid emailing sensitive information and protect your borrowers data when you submit documents directly into BLU.

Email Notifications about Statement Analysis

Stay up to date with your borrowers income analysis with email notifications delivered right to your inbox!

Streamlined the Loan Process

Review income analysis results and then seamlessly proceed to complete your mortgage application—all from one place.

Frequently Asked Questions

What are current turn times?

Approximately 24 hours.

Can I submit a 1 file with all 12/24 months of Bank Statements included?

Yes, Brokers can upload a single file with all 12/24 months included. IncomeIQ will analyze and split out the file into the identifiable months.

What type of files can I upload?

IncomeIQ only accepts valid, non-password protected PDF files at this time. Please note that uploading password protected PDF files or non-bank statement PDF’s may cause a delay in your analysis.

Will I receive updates about my income?

Yes! You will receive notifications once Income IQ receives the completed business narrative and finishes initial processing of the bank statements.

There are two variations of this notification:

  1. Process Completed Without Missing Documents: This email is confirmation that we’ve received the statements and the Newfi Bank Desk can review.
  2. Process Completed With Missing Documents: This email indicates that your income submission was incomplete. We are missing statements based on our automated analysis.

Once Newfi’s Bank Desk analyzes the statements, you will receive one of two emails:

  1. BSA Complete More Information Needed: This email indicates that our team requires additional information, or that the statements analyzed did not meet Newfi Wholesale’s guideline requirements.
  2. BSA Complete: This email indicates that the statements did meet Newfi Wholesale guidelines and is now ready for  you to view in BLU.

You can also always check in on the file using the BLU portal for more real time feedback on missing statements or analysis results once the file has been analyzed.

Once I receive my analysis, can I submit my loan?

Yes! In BLU, locate the Income IQ Pipeline, find the ACTION and click “Register Loan” to proceed.

If my borrower owns multiple businesses, can I upload bank statements for all of their different businesses?

Yes. Submit a separate request for each business owned. Once the loan moves to Registered status, all supporting documentation will be transferred.