Increased Accuracy and Consistency
The calculator applies Freddie Mac’s income calculation guidelines consistently, reducing the risk of human error.
Ensures all loan files are underwritten using the same standards, which increases confidence in loan quality.
Reduced Repurchase Risk
By using an approved tool that aligns with Freddie Mac’s requirements, lenders reduce the chances of miscalculating income, which is a common reason for loan repurchase requests.
Can be used prior to submitting to Loan Product Advisor (LPA) for early view of employed income qualification.
Time, Efficiency and Cost Savings
The calculator automates complex income calculations, saving underwriters and processors significant time.
Streamlines the workflow, allowing staff to focus on other areas of loan origination.
A free, online calculator with no login or protected personal information (PPI) required.
Documentation and Audit Trail
The tool provides a clear, printable summary of income calculations and supporting documentation.
Facilitates internal and external audits, as all calculations and assumptions are clearly documented.
Alignment with Freddie Mac Requirements
The calculator is regularly updated to reflect the latest Freddie Mac guidelines, so lenders are always in compliance.
Reduces the need for manual guideline interpretation and updates.
Enhanced Borrower Experience
Faster and more accurate income assessment can speed up the loan approval process, improving the borrower’s experience.
