LoanBeam Wage combines advanced machine learning with layered optical character recognition (OCR) technologies to automatically extract and interpret the variety of income data contained in a borrower’s unstructured paystub and W2 income documents, with no human involvement.

The company's LoanBeam^® Transcripts product provides Freddie Mac with IRS tax transcript data that can be compared to the borrower's tax return(s) data through Loan Product Advisor^® Asset and Income Modeler (AIM) for self-employed, providing rep and warranty relief related to the accuracy and integrity of the tax return data used to calculate borrower qualifying income.

LoanLogics was selected based on its groundbreaking machine learning-based technology, LoanLogics IDEA (Intelligent Data Extraction and Automation) for MSR Transfer. By applying automated, repeatable processes, IDEA for MSR Transfer is helping MSR buyers eliminate bottlenecks and create more consistent, faster and more cost-effective transactions with sellers.

Pilon will oversee human resources and legal functions and take part in several strategic programs in collaboration with LoanLogics’ executive leadership team and its parent company, Sun Capital Partners.