Qualifying Income Calculator (AMIQuiC)

A set of calculators for base, bonus, overtime and commission income designed to streamline processing, AMIQuiC makes it easier to determine base and variable income for qualifying with these key features:

• Calculates income trends, so you can clearly see whether income is increasing or decreasing year-over-year.
• Allows you to choose which data to include or exclude in your calculations, based on the trends you observe.
• Includes a Pay Stub Decimal Calendar, which enables you to accurately determine the Year-to-Date factor by using the Pay Period Ending Date and the Pay Frequency.

Tax Return Analysis Calculators (AMITRAC)

These interactive spreadsheets follow the Schedule Analysis Method (SAM) of tax return evaluation. Two versions — one macro-enabled and the other macro-free — reflect current tax years and include:

• The ability to accommodate one or two years of data entry, so if you receive documentation relief from your automated underwriting system, the AMITRAC is on point.
• More user control for determining qualifying income based on trending. A default setting averages two years of data, and users can choose to use only the prior year or only the most recent year.
• Automatic error messaging for certain types of simple data entry errors.
• Fannie Mae and Freddie Mac guidelines pertaining to Corporation analysis integrated into the calculations.

The macro-free version features the following:

• No macro-enabling is necessary (so no need to make a trusted document).
• One section for each business structure instead of five. Users can still enter multiple businesses, but only one of each business type (one sole proprietorship, one partnership, etc.).