Highly advanced custom web forms which allow lenders to calculate, capture, automate, and evidence for investor purchase within LOS
$1,295
Income calculations are critical for every loan, and we’ve moved our very popular Calc tools to super fancy-dancy Encompass Web Forms! This comprehensive bundle featuring Income Calc Tool, Rental Calc Tool, and Self-Employed 1084 handles all income scenarios - employment, rental properties, and self-employment - with built in validation and automated calculations. Calculate with confidence, eliminate errors, and streamline your income analysis workflow within Encompass Web.
Income Calc Tool (Web): The Income Calc Tool for Encompass Web is a highly advanced custom web form that allows lenders to calculate, capture, automate, and evidence for investor purchases without having to manage outside of the LOS on Excel, a calculator, or an abacus. Additionally, this tool gives Admins and Operations significantly more control over the process and multiple additional data points to create native business rules, hard-stops, and commonly requested reporting and documentation needs.
Rental Calc (Web): Simplify rental income calculations with this intuitive tool that pulls property data directly from your loan's VOM (Verification of Mortgage). The form supports up to two years of rental income analysis, allowing you to select which year(s) to include in your calculations. The tool automatically calculates monthly qualifying income by dividing your total rental income/loss by the number of months selected. Build quality control measures into your process, such as adding a hard stop in the file flow to require calculation prior to submission.
Self Employed 1084 (Web): Calculate self-employment income across multiple business entities with this comprehensive form. Once a VOE entry is marked as self-employed, simply select the company from the drop down and enter income data for up to two tax years. The form handles all business structures, with clear subtotals for each section. A new Self-Employed Summary at the top provides instant visibility to all calculations, making it easier to review and verify income totals. Save your work to the CDO for future reference or push the calculated monthly income directly to the corresponding VOE with a single click.