LoanCraft offers a variety of services to assist you in the calculation and verification of income.
Our Income Report provides a full analysis of income, based on documents such as paystubs tax returns.
- Accuracy is warranted.
- Current turn time is less than two hours for typical files.
- Set up is quick and easy. No setup fees.
- No minimum volume commitments or minimum term.
- We do all the work. We fill any calculation gaps and warrant the accuracy.
- Integrated into Ellie Mae's Encompass
Tax Return Analysis provides a full analysis of income for self-employed borrowers, based on tax returns you upload to our secure portal.
Employment Income Calculation takes standard income documents and generates income calculations. This data can be consolidated in the self-employed reports too.
The Full Income Report calculates income from more than thirty types of income sources, effectively providing a consistent method of documentation and calculation of all the relevant income categories for Fannie, Freddie, VA, FHA, and Appendix Q.
Self-Employed ExpressSM is an end-to-end streamlined process for calculation of cash flow on tax returns. You go from e-signature to final analysis – we do all the work in between. But with Self-Employed ExpressSM, the process is easier and quicker for everyone.
Streamlined Workflow with the Virtual PanelSM. Underwriting income is time consuming, especially for self-employed borrowers. It often requires significant work before the complexity of a file is understood. Part of every Income Report, the Virtual PanelSM provides three income estimates tailored by varying assumptions. Typically, the Virtual PanelSM contains a conservative, standard, and optimistic estimate, but you can adjust it to fit your strategy.
The Virtual PanelSM gives you an immediate view of how complex a file is. When all the estimates are close or the same, the file is not complicated, even if it has several businesses. But when the estimates differ, it's likely that a little additional analysis is warranted.