source:
  type: guide
  id: fnma-sel-b3-3.1-03
  authority: Fannie Mae Selling Guide B3-3.1-03 — Income Calculator
  description: Fannie Mae Selling Guide B3-3.1-03 — Income Calculator.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-3.1-03-full
  canonical_id: fnma-sel-b3-3.1-03-full
  section: Fannie Mae Selling Guide B3-3.1-03 — Income Calculator
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-3.1-03 — Income Calculator
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'B3-3.1-03, Income Calculator (03/04/2026) Introduction This
      topic contains the following: Overview Findings Report Technology Service Provider
      Representations and Warranties Enforcement Relief Additional Requirements Overview
      Fannie Mae oﬀers use of the Income Calculator as an optional tool to assist
      the lender in calculating qualifying income. This tool can be used for loans
      underwritten manually or through DU. Findings Report The Income Calculator Findings
      Report can be used to satisfy the requirements for the lender to prepare a written
      analysis of their evaluation regarding the calculation of qualifying income,
      such as Fannie Mae''s Cash Flow Analysis ( Form 1084), Comparative Income Analysis
      ( Form 1088) or a similar form. A copy of the Findings Report must be maintained
      in the loan ﬁle. Technology Service Provider The lender can choose to use a
      Fannie Mae-approved technology service provider to extract data from tax returns
      and auto-populate the required ﬁelds within Income Calculator. Representations
      and Warranties Enforcement Relief When the amount of qualifying income being
      used by the lender is not more than the amount of income calculated by Income
      Calculator, enforcement relief from representations and warranties on the accuracy
      of the income calculation may be provided but the lender remains responsible
      for the accuracy of the information submitted. See Enforcement Relief of Representations
      and Warranties for Loans with Income Calculated by Income Calculator in A2-2-04,
      Limited Waiver and Enforcement Relief of Representations and Warranties for
      Published May 6, 2026 306 additional details. Additional Requirements For loans
      that use the qualifying income amount calculated by Income Calculator, the lender
      must also comply with the requirements in the following table. ✓ Additional
      Lender Requirements Conﬁrm that tax returns meet the allowable age of documents
      requirements in B1-1-03, Allowable Age of Credit Documents and Federal Income
      Tax Returns. Ensure all information submitted to Income Calculator is accurate,
      complete, and reﬂects the information on the tax returns being used to document
      the qualifying income. Investigate and resolve any contradictory or conﬂicting
      information that may impact the accuracy of the income calculation. Comply with
      all other Selling Guide requirements, including DU messages, when applicable,
      and requirements in A2-2-04, Limited Waiver and Enforcement Relief of Representations
      and Warranties. Recent Related Announcements The table below provides reference
      to recently issued Announcements related to this topic. Announcements Issue
      Date Announcement SEL-2026-02 March 04, 2026'
  judgment: false
