Underwriting is tough. Underwriters have a mountain of information to remember and apply correctly on each and every loan they touch. Straight memorization, or rote memorization, is what we learned in our school days with flash cards and spelling words. Through hours of practice and application we were able to move that information from our short-term memory to our long-term memory. Short-term vs. Long-Term Memory Research shows that rote memorization like flash cards is
March 20, 2024 12pm EST IncomeXpert now supports linking past employment with the current employment. This solves the problem of borrowers who have variable income and have switched jobs recently. Previously IncomeXpert had a Change Of Jobs income type to accomplish this scenario. Linked Income replaces Change Of Jobs in IncomeXpert. Linked Income has expanded functionality and capability over Change of Jobs. This feature is great for analyzing borrowers such as travel nurses, union
Overview The Adjust Selected Income feature will allow users with this permission to choose an income that was not recommended by IncomeXpert. The purpose of this feature is for companies to grant permission to certain users to deviate from the recommend values of IncomeXpert. These examples may include declining income that user feels is within acceptable tolerance, incomes that have less than the standard history, or income that may increase in the future, to name
February 1, 2024 Blueprint is updating the user interface and the API for uploading tax and income documents when utilizing IncomeXpert PLUS. If you are not currently using IncomeXpert PLUS, this change notice won’t impact you. If your team does use IncomeXpert PLUS, you will need to disseminate this information to those users and development teams. What is changing? The order screen in IncomeXpert PLUS and the API endpoint for uploading documents is being
IncomeXpert PLUS (the Service) is a income analysis service provided by Blueprint Solutions. Users of the service acknowledge and agree to the following terms and conditions. Orders Users of the Service will place orders exclusively through the Blueprint order portal. Orders or amendments to existing orders can not be made through email or phone. Once an order is placed it can not be modified, stopped, or edited. The user is responsible for ensuring the scope
Yes, tip income can be used as part of your qualification, provided that these tips are properly reported. It’s important to note that any income NOT documented by a third party, such as paychecks, Verification of Employment (VOE) forms, or tax returns, cannot be utilized to qualify. For all major agencies and program types, it is mandatory to substantiate tip income directly from the employer by using the borrower’s pay stubs and W-2 forms, VOE
A common issue in mortgage operations teams is a habit I call “Guideline Lumping.” This is when we don’t slow down and read the detailed statements in the guidelines. A fast reading has us applying these rules across the board, when they might not be applicable. Because pensions are listed under guidelines in the “Retirement, Government Annuity, and Pension Income” area of FNMA( B3-3.1-09), the rule about confirming the three years continuance can incorrectly be
Notice Date: Oct 9, 2023 We have made the difficult decision to discontinue our Pay-As-You-Go Premium tier, effective December 31, 2023. To continue using IncomeXpert beyond December 31, 2023, we users will need to reach out to customer support to opt into a new tier of service. If no action is taken, your account will be suspended starting January 1, 2024. After 60 days of suspension, the account will be permanently closed. As you are
Notice Date: Oct 6, 2023 Effective December 1, 2023 IncomeXpert will retire the Debt page. IncomeXpert remains committed to our primary goal of providing the most comprehensive income analysis solution for the mortgage industry. We considered the low utilization of the debt functionality and made the decision to remove the Debt functionality and focus purely on income and income analysis. On December 1, 2023 users will no longer be able to create new debts and
When the Blueprint API is used a single API key is used to authenticate the API caller. This approach is convenient for organizations to manage a singular API key, but organizations lose the ability to track which user made a request across the API. Starting with V2 R14 of the API change tracking of critical API endpoints is available. Prior to V2 R14 a default value of “API User” was used to indicate who made
