TrueTax™ turns a 60% post-close failure problem into zero, at up to 80% less than traditional transcript services
For years, the industry has accepted high failure rates as if they were simply the cost of doing business. We make IRS source-of-truth information available reliably, quickly, and inexpensively.”— Kirk Donaldson, CEO, Halcyon
STOCKYARDS, FORT WORTH, NJ, UNITED STATES, October 9, 2026 /EINPresswire.com/ — The mortgage industry has long tolerated a staggering inefficiency: investors report that roughly 60% of post-close income validations fail, leaving lenders exposed to repurchase risk every time a loan moves forward without verified income. That assumption of failure is now being challenged head-on. In a GSE post-close test of Guaranteed Rate loans, Halcyon® Solutions fulfilled 100% of transcript requests with zero failures, all within hours.
"For years, the industry has accepted incredibly high failure rates as the cost of doing business," said Kirk Donaldson, founder and CEO of Halcyon. "The information exists at the source. Our job is to make IRS source-of-truth data available reliably, quickly and inexpensively."
Why Transcripts Fail, and Why Halcyon's Don't
The root of the problem is procedural. Traditional transcript requests are submitted to the IRS one at a time, each needing a fresh signature and a fresh chance at rejection. One major credit and transcript provider reports rejection rates as high as 30%. Because rejected requests are still billed, costs can top $50 per loan. By post-close, borrowers are harder to reach and failures compound, turning a routine verification into a costly, drawn-out ordeal.
Halcyon's TrueTax™ works differently. It retrieves transcripts under a borrower-granted authorization held on file with the IRS. Once that authorization is in place, lenders can pull transcripts again, before or after closing, without a new submission. That's how a 60% problem becomes a zero.
Under 1% Upfront, and Every Rejection Means Something
At origination, TrueTax rejections run under 1%, and nearly all trace back to borrower misrepresentation.
That changes what a rejection means. When the IRS rejects nearly a third of requests, a failed pull is just noise. When rejections fall to the level of misrepresentation, each one is a strong fraud signal. It surfaces synthetic identities and bad actors before a loan moves forward, not months later in a post-close review.
"Before you apply artificial intelligence, you need actual intelligence," said Donaldson. "You need to know who the person is, where the information came from, whether it has been altered, and whether the data driving the decision is true."
Lower Cost, No Surprises
- Up to 80% savings versus traditional transcript services
- No added fees for corrections, extra tax years, multiple borrowers or rejections
- Pay only for success. Lenders are charged only when the IRS authorizes the borrower.
Halcyon serves one of the industry's largest transcript client bases, directly and as the engine behind many leading resellers. TrueTax is available through multiple LOS integrations, direct API, and reseller channels branded "Powered by Halcyon."
From Verified Transcript to Qualifying Income
Reliable transcripts are the foundation of self-employed income analysis. Halcyon's TrueCalc™ builds on that foundation. It uses AI imaging to extract tax return data and reconciles it directly against IRS transcripts, eliminating the manual "stare-and-compare" step and the multi-vendor handoffs that add error and breach exposure. The result is fully data-driven income output at a fraction of the cost of traditional calculation services.
Eligible loans carry representation-and-warranty relief from both GSEs. One GSE has extended that relief to the combined data and calculation, a distinction Halcyon believes is unique in the industry. Because TrueCalc is web-based, every source document, input and adjustment is preserved, giving underwriting, QC and post-close teams a complete audit trail.
Lenders can learn more at halcyonsolutions.ai.
About Halcyon® Solutions
Halcyon Solutions is an AI-driven fintech firm delivering direct access to IRS tax transcripts and advanced income-analysis tools. Its platforms help lenders and financial institutions cut costs, improve accuracy and accelerate loan origination with compliant, next-generation data workflows.
Why it matters: This test result signals that the mortgage industry’s long-accepted failure rates are not inevitable — they are a fixable operational flaw. If TrueTax’s performance holds at scale, lenders could significantly reduce repurchase risk and fraud exposure while cutting costs, reshaping how income verification is done across the sector.
Roby Robertson
Halcyon Still Water
+1 817-614-6470
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