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 Underwriter Experience via the Encompass® Web Application

AutomatIQ® Borrower Income Analysis

Underwriter Walkthrough via the Encompass® Web Application

Underwriters can use the Income Calculation Tab to quickly analyze the borrower’s income and allows them to focus on specific tasks in order to complete their portion of the income review. 

Income Calculation Tab

Baseline:
$27,928
B1: $22,844
B2: $5,083

AiqEpcUi

Potential:
$32,801
B1: $24,776
B2: $8,025

Adjusted:
$26,353
Joint amount: $0
B1: $21,270
B2: $5,083

Task List
FHLMC (Freddie)
Output Options
Lock File
SUMMARY
User Guide 
Getting Started
12:10PM Jan 20, 2025
7 Available Opportunities
5 Missing Documents
0 Data Capture Comments
IRS Total Reported Income
B1 / B2: 2022:  $375,900 2021:  $316,000
Tax Return Notes
Baseline:
$27,928
B1: $22,844
B2: $5,083
Potential:
$32,801
B1: $24,776
B2: $8,025
Adjusted:
$26,353
Joint amount: $0
B1: $21,270
B2: $5,083

Top
Loan #: TEST240312866    
B1: John Kane
Opportunities
Baseline:
Potential:
Adjusted:
$22,844
$24,776
$21,270
 Prev
B1: Schedule B - Dividend has been negated
Next 
[ 6 of 7 ]
List View
B1: JOHN KANE
B2: MARIE KANE
B1
Included:
YES
NO
WAGE
 CoreLogic
 PS/W2
$6,000.00
→
$7,000.00
$6,000.00
 1040 Wages
Joint Return
 
 
$0.00
Add Wage Company
Wage Total
$6,000.00
 
 
$6,000.00
SELF EMPLOYED | CASHFLOW CALCULATION: 
24 MONTH
12 MONTH
Resend To Freddie Mac
 Self-Employed Summary
 
$13,202.61
 Kane Shipping Inc
 1065 - No P&L
$8,110.42
→
$8,387.50
$8,110.42
 Kane Manufacturing
 1120s - No P&L
$5,092.19
→
$5,654.69
$5,092.19
Add Company
Self Employed Total
$13,202.61
 
 
$13,202.61
RENTAL
Go to Grid View
 Schedule E Rental Income
$3,641.66
→
$3,641.66
$2,067.33
Schedule E Rental Income Total
$3,641.66
 
 
$2,067.33
 8825
 
 
$0.00
8825 Total Calculation
 
 
 
$0.00
OTHER INCOME
 Current & 1040 Other Income
Joint Return
$0.00
→
$91.67
$0.00
Married Filing Jointly | B1: John Kane | B2: Marie Kane | Values included from joint return (1040).
 	 	 		Current	YTD	 2022	 2021	 	Qualifying Calculation	Adjusted Monthly
	
	Tax Exempt Interest Income	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	Alimony	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	Taxable Pension/IRA Distr	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	Non-taxable Pension/IRA Distr	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	Unemployment Compensation	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	Taxable Social Security Benefit	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	Non-taxable Social Sec Benefit	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	Schedule 1 Other Income (or Loss)	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	
Schedule D:
Capital Gains/Losses
	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	
Form 4797:
Sale of Bus Property
	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	
Form 6252:
Installment Sale Incm
	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
	
	Veterans Disability	
B1
→
B2
		
$0
	
$0
	
$0
	
$0
	 	
	
$0
Schedule E

 	
	
Total Net Royalties
	
B1
→
B2
	
$0
	
$0
	
$0
	
$0
	 	
	
$0


 	
	
Estate/Trust Income
	
B1
→
B2
	
$0
	
$0
	
$0
	
$0
	 	
	
$0
Schedule B

 	
	
Interest
	
B1
→
B2
	
$0
	
$0
	
$0
	
$0
	 	
	
$0


 	
	
Dividend
	
B1
→
B2
	
$0
	
$0
	
$1,200
	
$1,000
	 	
($1200 + $1000) / 24 = $91.67 (default)
	
$0

 	
	 LO Ignored	Schedule B - Dividend has been negated. If it can be documented that this income will continue, review data, update calculation(s), and comment.
$0$91.67
Skip
Edit
Accept
Add Other Income
Other Income Total
 
 
 
$0.00

Understand how effectively you can use the task list to expedite your work.

Task List

Spotlight the key callouts in the summary section for your immediate attention and action.

Summary Section

IRS Total Reported Income
B1 / B2: 2022:  $375,900 2021:  $316,000
Tax Return Notes
Tax Return Notes
B1 / B2
1) 2021 Tax data is from the uploaded Tax Return.
2) 2021 Tax Return is not dated.
3) 2021 Tax Return is not signed.
4) 2022 Tax data is from the uploaded Tax Return.
5) 2022 Tax Return is not dated.
6) 2022 Tax Return is not signed.

Dig deeper into the rental property(s) of the given borrower(s)

Rental View

Understand how the document are stored with the solution and how can identify the missing documents.

Document Storage

To streamline any audit or review process, simply head to the 'Change Log' tab. 

Change Log

How to apply specific investor guidelines to any loan

Investors Guidelines

How to download a copy or send to the Encompass® efolder 

Output Options

Task List
FHLMC (Freddie)
Output Options
Lock File
SUMMARY
User Guide 
Getting Started
12:10PM Jan 20, 2025
7 Available Opportunities
5 Missing Documents
0 Data Capture Comments
IRS Total Reported Income
B1 / B2: 2022:  $375,900 2021:  $316,000
Tax Return Notes
Baseline:
$27,928
B1: $22,844
B2: $5,083
Potential:
$32,801
B1: $24,776
B2: $8,025
Adjusted:
$26,353
Joint amount: $0
B1: $21,270
B2: $5,083
B1: JOHN KANE
B2: MARIE KANE
B1
Included:
YES
NO
WAGE
 CoreLogic
 PS/W2
$6,000.00
→
$7,000.00
$6,000.00
 1040 Wages
Joint Return
 
 
$0.00
Add Wage Company
Wage Total
$6,000.00
 
 
$6,000.00
SELF EMPLOYED | CASHFLOW CALCULATION: 
24 MONTH
12 MONTH
Resend To Freddie Mac
 Self-Employed Summary
 
$13,202.61
 Kane Shipping Inc
 1065 - No P&L
$8,110.42
→
$8,387.50
$8,110.42
 Kane Manufacturing
 1120s - No P&L
$5,092.19
→
$5,654.69
$5,092.19
Add Company
Self Employed Total
$13,202.61
 
 
$13,202.61
RENTAL
Go to Grid View
 Schedule E Rental Income
$3,641.66
→
$3,641.66
$2,067.33
Schedule E Rental Income Total
$3,641.66
 
 
$2,067.33
 8825
 
 
$0.00
8825 Total Calculation
 
 
 
$0.00
OTHER INCOME
 Current & 1040 Other Income
Joint Return
$0.00
→
$91.67
$0.00
Other Income Total
 
 
 
$0.00