Simplify Self-Employed Income Calculations with Fannie Mae's Tool
Original Source: singlefamily.fanniemae.com
Calculating income for self-employed borrowers is not easy and can be time consuming and complicated for even the most seasoned originators. With a growing workforce of self-employed borrowers, and multiple options available, originators need a clear way to calculate income that’s both accurate and efficient.
With Fannie Mae’s latest solution, we offer a new way to calculate income that increases the certainty of the calculation and helps reduce cycle time.
Available through a free web interface or an automated integration with a partnering technology service provider (TSP), Income Calculator can help:
Easily calculate income for self-employed borrowers.
Maximize the borrower’s income by utilizing allowable add-backs not found in 4506-C tax return transcript data, which may result in lower DTI due to higher income being calculated.
Determine the qualifying monthly income before submitting to DU.
Originate with confidence – we offer enforcement relief of reps and warrants on the income calculation.
If this tool doesn’t meet your needs or if you require additional assistance, our Processors are all well-versed in calculating income and are ready to help you every step of the way.
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