Take3Tech Announces Fannie Mae’s Income Calculator Now Available In LoanMAPS
Take3Tech has announced that Fannie Mae’s Income Calculator is now fully integrated and available within its convergent technology platform, LoanMAPS. The company touts that it is the first platform to offer the Income Calculator directly within a Loan Origination System (LOS), and that Take3Tech provides users with a streamlined, end-to-end solution—from sales through interim servicing—within one unified system.
Key Benefits of using Fannie Mae’s Income Calculator in LoanMAPS:
- Ease of Use: Accurately calculate income for self-employed borrowers within the LoanMAPS platform.
- Income Maximization: Leverages allowable add-backs not found in traditional 4506-C tax return transcripts, potentially lowering debt-to-income ratios.
- Pre-qualification Efficiency: Determine qualifying monthly income before submitting to Desktop Underwriter® (DU®).
- Originate with Confidence: Obtain Fannie Mae’s enforcement relief of representations and warranties related to Income Calculator.
“We continue to look for ways to eliminate bottlenecks in the origination process and help address issues that may arise in downstream loan quality reviews,” said Mark Fisher, Vice President of Single-Family Credit Risk Solutions at Fannie Mae. “Our latest tool solves a lender pain point to accurately calculate income for self-employed borrowers and we’re excited to collaborate with technology service providers to make this tool widely available.”
LoanMAPS, a convergent technology platform, combines Point of Sale (POS), Loan Origination System (LOS), and Customer Relationship Management (CRM) into one solution that supports the full mortgage process, from sales to interim servicing. Now, with the addition of Fannie Mae’s Income Calculator, LoanMAPS continues to enhance the loan origination journey by reducing complexity and increasing efficiency.
“We’re proud to be the first platform offering Fannie Mae’s Income Calculator directly within a Loan Origination System,” said Anita Padilla-Fitzgerald, CEO of Take3Tech. “This addition aligns perfectly with our mission to provide a fully integrated, end-to-end solution that eliminates the need for multiple systems. With LoanMAPS, even entry-level employees can confidently calculate income for self-employed borrowers, while seamlessly integrating DU, investor overlays, and offering step-by-step guidance for processing and closing loans.”
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