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Freddie Mac Updates Income Assessment Tool for Digital Paystubs

Friday, May 26 2023
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Written by  The Mortgage Leader

Freddie Mac has revised its automated income assessment tool so that lenders may now use a borrower’s digital paystub data as part of their assessment of a homebuyers’ income paid through direct deposit. So reports DSNews.

Freddie Mac 150x150The move aims to speed up income calculations, streamline the process and make credit more widely available.

The new feature is accessible to lenders through Freddie Mac’s Loan Product Advisor (LPASM) asset and income modeler (AIM).

Read the full article from DSNews.

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