DALLAS and WASHINGTON, Oct. 15, 2018 /PRNewswire/ -- Today, Fannie Mae and LoanBeam announced an innovative enhancement allowing mortgage lenders to enjoy a consistent and reliable process for calculating income for self-employed borrowers.
By year-end, LoanBeam customers will be able to use LoanBeam's FNMA SEI 1084 workbook to simplify the self-employment income calculation process and enjoy enhanced certainty knowing the calculation aligns with the Fannie Mae Selling Guide.
"LoanBeam is excited to work with Fannie Mae on this solution," said Kirk Donaldson, LoanBeam's Chief Executive Officer. "We are proud that Fannie Mae committed to aligning the FNMA SEI 1084 workbook to the Selling Guide. It is a great win for our customers," he continued.
"We always put our customers at the center of what we do. Our customers asked us to innovate around self-employed income and we listened," said Henry Cason, Fannie Mae's Senior Vice President and Head of Digital Products. "We are excited to deliver this solution to the market so quickly."
Lenders who want to learn more about using LoanBeam's FNMA SEI 1084 workbook can contact their Fannie Mae Relationship Manager or firstname.lastname@example.org (current LoanBeam customers) or email@example.com (lenders new to LoanBeam).
With patented technology based on more than 15 years in tax preparation and accounting experience, LoanBeam has established itself as the standard in automated income calculation. LoanBeam leverages big data partners, advanced scanning technologies, and patented algorithms to distill multiple streams of income into a single, easy-to-read, electronic output. The company is headquartered in Dallas, Texas. For more information, visit www.LoanBeam.com.