It’s been roughly a decade since the beginning of the Great Recession. Ten years hence, job growth has been strong, yet there remains a wide disparity between jobs and household growth.

Historically low housing inventory at high prices is still making homeownership seem increasingly out of reach for many potential buyers. Even the possibility of staying in an apartment is discouraging, as rental costs have risen faster than inflation.

Add to this mix the growth of the gig economy. Fewer workers today subscribe to the 9-5 employment model, preferring nontraditional jobs as contractors, freelancers or on-demand workers.

For example, Baby Boomers have become a big piece of the self-employed market, leaving or losing pre-Recession jobs and taking a different employment route. While Millennials’ entry into the housing market may have been delayed because of the crisis, they don’t want to rent forever. They’ve embraced the gig economy − and they want to own a home.

Introducing AIM for Self-employed

Today’s self-employed market represents the largest segment of potential buyers. However, lending to this segment has historically presented challenges. It takes longer than a regular loan because the income calculation can be complicated. It can also be more expensive, because lenders often need to put their most experienced underwriters on those loans.

Through our collaboration with fintech company LoanBeam, we’re simplifying an otherwise daunting underwriting process with Loan Product Advisor® asset and income modeler (AIM) for self-employed. AIM for self-employed automates the manual lender process of assessing income for self-employed borrowers.

What you can do with AIM for self-employed:

  • Increase your underwriting productivity.
  • Get income rep and warranty relief.
  • Close loans faster.
  • Make your underwriting decisions faster.
  • Bring your costs down.
  • Deliver a better customer experience.
  • Grow your business.

As the self-employed demographic continues to grow, AIM for self-employed enables you to be more competitive, especially in the current purchase market. By using the only AUS-integrated self-employment income solution available, you can break into a growing, untapped market.

Visit the AIM for Self-employed web page.