00:00Calculating borrower income is one of the most critical steps in the origination process.
00:07Whether for W-2 borrowers with straightforward pay stubs, self-employed borrowers, or borrowers
00:13with multiple income streams, lenders know that income accuracy is essential.
00:18That's where the Freddie Mac Income Calculator comes in, a free online tool designed to help
00:23lenders calculate borrower income quickly, accurately, and with greater confidence.
00:27The Income Calculator is for mortgage professionals and requires no special credentials or integrations
00:33and can be used either prior to or alongside a loan product advisor submission.
00:39The rising costs to originate loans continues to put pressure on lenders.
00:43Every minute spent on manual processes and every error that needs correction adds up.
00:49This tool gives lenders an easier way to calculate income and streamline a step that has traditionally
00:55been time-consuming.
00:56Whether a large institution with advanced technology or a smaller shop with leaner resources,
01:02the Income Calculator offers the same level of accuracy and flexibility.
01:07What's unique about this tool is its ability to provide representation and warranty relief
01:12eligibility and its compatibility with Loan Product Advisor, or LPA.
01:17Lenders not only save time, but also gain the certainty that their loans are being underwritten
01:22on a solid foundation.
01:23By supporting a variety of income types and documentation, including W-2s, pay stubs, tax returns, and
01:30transcripts, the calculator broadens reach and ensures that more borrowers can be served consistently
01:36and effectively.
01:38The FridayMac Income Calculator is a step towards a greater certainty in the lending process, helping
01:44lenders make faster, smarter decisions.
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