Search Results

Using Encompass Partner Connect (EPC) with Income Expert using two Encompass Instances

Please note this link to the Quick Reference Sheet. This PDF guide outlines the steps demonstrated in the video. You can download and print it from the related help article, making it easy to follow along during the setup. Using EPC with Two Encompass Instances Starting the Integration When you’re ready to begin income evaluation during your underwriting review: Set up your loan in Encompass. Navigate to the Services tab. Click Order Additional

How to Use IncomeXpert from the Encompass Services And the Blueprint Website

This training video walks you through the process of using IncomeXpert within the Encompass services tab. It is designed for underwriters, processors, or team members responsible for reviewing income. 1. Prepare Your Loan File in Encompass: Complete your underwriting review. Ensure employment income has been entered. Ensure other income (child support or alimony for example) has been entered. Investment properties are entered into the REO section on page 3. Access IncomeXpert from the

Reprocessing Documents in IncomeXpert PLUS

Documents uploaded for review and extraction with IncomeXpert PLUS are processed based on the tax years and agency selected. The system will extract the numbers from the correct places on the documents and enter those numbers into the software, giving you your final income calculations. This is what we call “processing of documents”. Reprocessing will re-analyze previously uploaded documents and re-extract the document data and apply it to the loan file. When is reprocessing

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 Calculator

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 for short. IncomeXpert is unable to calculate the correct rental income because the PITI is missing. You will see a

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, it could be due to one of the following reasons. Ensure the missing income is a 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. The borrower social security numbers may not match the

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 Mae Income Calculator

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 more about this service, please download the FAQ from Fannie Mae below. Income Calculator Lender Fact Sheet Income Calculator Lender

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 YTD calculation will sometimes be lower than the income based on the new pay rate. The YTD calculation will be

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 are seeking. Many times people say reps and warrants, and the inference is the entire loan is rep and warranted.