Freddie Mac announced enhancements to its automated income assessment tool to include tax transcripts as a new data source. This enhancement will give lenders another tool that automates income assessments with speed and accuracy, opening the door to ownership for more qualified self-employed borrowers who report income on IRS Form Schedule C (sole proprietary). The new capability is available to mortgage lenders nationwide through Freddie Mac's Loan Product Advisor®?

(LPASM) asset and income modeler (AIM). By offering a direct connection to tax transcript data, lenders can simplify and speed up the assessment while saving applicants time and reducing associated costs. Additionally, AIM helps minimize risk, giving lenders confidence they are delivering loans that align with Freddie Mac's strong purchase eligibility requirements and credit underwriting standards.