Fannie Mae Enhances Income Calculator For Self-Employed Borrowers

Fannie Mae enhanced its Income Calculator tool to give self-employed borrowers a leg up. The new and improved calculator is now available at FannieMae.com for lender use at no additional cost. It is also built into CoreLogic’s Income Analyzer service and PointServ’s Digitally Sourced Data service. It builds on the GSE’s existing Income Calculator, introduced in 2023, which automates the calculation of self-employment income during the underwriting process. It uses tax return data to identify income using Selling Guide requirements, then returns a monthly qualifying income amount, plus recommended actions to help lenders avoid document and calculation mistakes. “Whether through our new web-based user interface or through an integrated technology service provider, Fannie Mae’s Income Calculator simplifies the process of…