Fannie Mae Income Calculator Webinar
In this webinar Michal and Christopher introduce you to the Fannie Mae Income Calculator and its integration into IncomeXpert. This webinar covers: Overview of Fannie Mae Income Calculator Using Income Calculator via the web Using Income Calculator through IncomeXpert Overview of Reps and Warrants – IncomeXpert & Income Calculator How to get started with Income […]
PR – Fannie Mae Income Calculator Release
Detroit, July 22, 2024 – Blueprint Solutions, the creators of the innovative mortgage income analysis software IncomeXpert and IncomeXpert PLUS, is thrilled to announce a new integration with Fannie Mae’s Income Calculator. This integration allows lenders to directly access Fannie Mae’s Income Calculator from within the Blueprint platform. Clients using IncomeXpert or IncomeXpert PLUS will […]
How to add PITI to IncomeXpert PLUS
On your email notification that your IncomeXpert PLUS loan is completed, you will see a notice that says: You must enter PITI if Real Estate Owned was submitted When you submit a Schedule E with the rental property information, it is lacking the mortgage payment information, i.e. the Principal, Interest, Taxes and Insurance, or PITI […]
Missing income on IncomeXpert PLUS loan
If you notice some income sources are missing from your IncomeXpert PLUS loan that you expected to be there, you should ensure they are supported income types. IncomeXpert supports all agency income types. However IncomeXpert PLUS only supports a subset of those incomes. You can refer to our Supported Income Types article for more details. […]
Fannie Mae Income Calculator
IncomeXpert is now an authorized Technology Service Partner for Fannie Mae Income Calculator. Users can now submit their IncomeXpert loan files to Fannie Mae Income Calculator to get qualifying income directly from Fannie Mae. If you would like more information, you can visit our FAQ on Fannie Mae Income Calculator. FNMA Income Calculator FAQ Fannie […]
FNMA Income Calculator FAQ
Fannie Mae provides a service called Income Calculator which will analyze selected self-employed income and provide a qualifying income. Using this service makes lenders elidable for rep and warrant relief for the calculated income. To lean more about this new service, refer to the following Income Calculator fact sheet. If you would like to know […]
How to handle a recent pay raise
The employed income calculator was updated in July 2024 with three additional options to improve the accuracy of income calculations for IncomeXpert. The three new controls are described below. Recent Pay Raise When a borrower recently receives a pay raise this income may not initially be recommended by IncomeXpert. The reason being is the […]
Myths of Reps and Warrants
As lenders, we have all heard of reps and warrants and programs like Day One Certainty (D1C), but do we really understand them? Lenders rightfully seek out reps and warrant relief where possible to shift risk away from their business, but some lenders are unclear or misinformed on how to truly get the relief they […]
How to setup an automated income workflow
As an operations professional, you know that automated income analysis can make your organization run more smoothly and efficiently. However, did you know that some of the more forward thinking lenders are using automation to help out their colleagues in sales? Let’s back up. Sales needs to be able to correctly qualify a potential borrower. […]
Income Calculation vs. Income Analysis
How to calculate qualifying income? That phrase is uttered by many mortgage professionals, but the term is incorrect. The truth is many lenders focus on calculating income and fail to analyze the income. Aren’t they the same thing? Not really, and here is why. Calculating income is what you can do with your ubiquitous spreadsheet. […]