FNMA Income Calculator

Increase certainty of loan quality for buyers with self-employed income.

What is Income Calculator?

Income Calculator is a a free service from Fannie Mae for calculating self-employed income.  It is available via the Fannie Mae website for manual use and through authorized Technology Service Partners like Blueprint for automated usage.

Accurate Income

Income Calculator accurately calculates income for self-employed borrowers in accordance with Fannie Mae Selling Guide policy.  

Better Underwriting

Income Calculator uses tax return data which provides more income information than tax return transcripts.

Rep & Warrant Relief

Fannie Mae will offer lenders relief from enforcement of representations and warranties for the accuracy of the income calculation at loan delivery.

How does it work?

1: Upload Tax Returns

Upload your borrower’s tax returns and IncomeXpert PLUS will scan and extract the income data.  IncomeXpert PLUS will automatically create income sources with the data from the supplied tax returns.

2: Review Loan

Once IncomeXpert PLUS has populated the loan data from the supplied tax returns the lender can review the loan file, address attestations, and finalize the submission to Fannie Mae Income Calculator.

Advisories To Stay Ahead of Guidelines and Compliance

IncomeXpert includes over 200 income and agency advisories that alert underwriters if additional guidelines apply. With IncomeXpert, underwriters stay up to date with the latest industry guidelines to ensure calculated income is correct and guideline compliant.

3: Submit data to FNMA

When you are ready, you can submit the income data to Fannie Mae Income Calculator directly from IncomeXpert.  Results and advisories will be returned immediately.

Lenders can save the findings and report from IncomeXpert and Fannie Mae Income Calculator in the loan file.

4: Submit income to DU

Lender submits the qualifying income amount to Desktop Underwriter.  If all conditions are met, the loan is eligible for enforcement relief from reps and warrants related to the income calculation.

Clear Reporting

IncomeXpert ensures clear reporting by removing underwriting teams’ use of manual spreadsheets and forms. IncomeXpert provides underwriters with multiple levels of reporting details including trending analysis, income advisories, and summary totals.

Why use IncomeXpert for Fannie Mae Income Calculator?

The Fannie Mae Income Calculator is free to use on the Fannie Mae website.  Why would you want to use this via a Technology Service Partner (TSP) such as Blueprint?  Let’s review the major benefits.

Eliminate Data Entry

The Fannie Mae Income Calculator can be used directly from the Fannie Mae website, however all data must be entered manually.  No uploading of tax returns is supported.  Users must enter all personal and business return data for each income analyzed.

IncomeXpert PLUS automates the data entry and saves time and eliminates human data entry errors.

Full Loan Analysis

The Fannie Mae Income Calculator website calculates the income for a single borrower and single income source.  IncomeXpert allows users to calculate all income on a loan file at one time.

IncomeXpert will display the FNMA Income Calculator value, as well as the IncomeXpert value.  Users can select either calculation to be support their loan scenario.

Rep & Warrant Relief

Fannie Mae will offer lenders relief, but only for self-employed incomes supported by Income Calculator. Those are currently SchC, 1065, 1120S, and 1120.

IncomeXpert provides reps and warrants on all income types.  This gives you comprehensive rep and warrant coverage for all incomes on the loan file.

Got Questions?

If you have further questions, reach out to one of our sales team, or request a demonstration.