Overview
The Income Analysis Task List turns income opportunities and information deficiencies into a guided workflow of individual loan level tasks, saving you time and effort during your file review. This article provides guidance for using the Task List to manage review tasks.
Discover the Task List Features
To access the list, click the Task List. The Task List is permanently affixed in the upper right-hand corner of the interface.
When you click the link, the Task List slide-out panel will open, displaying recommended tasks to review. The tasks that you see are dependent on the income types submitted for analysis, as well as the specific results of the analysis.
You can check tasks off your list and communicate task status changes as you go. To manage your task statuses:
Select the checkbox associated with a task after you’ve completed it to mark it with the date and your initials.
Click the Message icon to leave comments related to a task or task status.
Warning: Comments are required to apply edits or updates to a task.
You can also generate a PDF report of analysis results to view or download from the Task List. To generate a PDF report of your analysis:
If you’re accessing Income Analysis from the AutomatIQ® Borrower Portal, click Report Options and select Generate Report.
If you’re accessing the Income Analysis service from Encompass®, click Output Options and select View PDF or Send PDF to eFolder.
Review your Tasks
The Task List will display tasks based on the results of your analysis. Following is the comprehensive list of tasks.
DU Casefile ID: If you are expecting a Rep and Warrant (R&W) determination but still need to enter the DU Casefile ID, enter the ID number in the field outlined red and click Resend.
Confirm EPC Income Source Matching: This task enables you to reconcile the income values stated in Encompass with those calculated from submitted income documents. For those that don’t match, you can select No Match from the drop-down and click Save.
Update Missing Documents: This task notifies you of documents that would be beneficial to upload or that are missing, as determined by the calculation guidelines you’ve chosen. To update the task status, select Requested, Received, or Not Required from the drop-down and click Update.
View Data Capture Comment: This task displays problems and recommended actions related to the data captured from your uploaded documents. To see the Data Capture comments, click the associated View button.
View Tax Return Comment: This task displays problems and recommended actions based on the data extracted from your uploaded tax returns. To see the Tax Return comments, click the View button.
View Opportunity List: This task displays the Opportunity List, enabling you to act on opportunities to improve income calculations. To review an opportunity, click the associated View button.
Tip: The Opportunity List is also accessible from the Available Opportunities link located in the Summary panel within the Income Calculations and LO View screens.
Wage-Related Tasks
Wage Summary: This task provides summary information related to wage calculations. To review your wage summary information, click the associated expand icon. To update calculation settings and statuses, make your selections in the drop-downs and click Update.
Match Orphan W2s with Paystubs: This task appears when both a paystub and W2 you’ve uploaded have no match. To merge the documents and reassess the income, click the Update button.
Multi-Year Paystubs (Variable Pay): This task enables you to update the income calculation for variable pay with information from prior year-end paystubs. If you update the displayed calculation, click Update to apply.
Potential Teacher Pay: This task appears when key terms like "school" and "board of education" are in the employer's name, and it enables you to select a 10-month period for calculation. To apply this change, update the months value to 10 and click Update.
Paystub Other Earning Assignment: This task appears when earnings items on a paystub are categorized as Other. When you reassign items, click the Update button to apply.
Paystub Deductions (Loans and Garnishments): This task displays loan and garnishment items found on the paystub for you to review. To modify liabilities based on these deductions, click Update.
Inactive VOIs in Prior 2 Years: The Work Number (TWN) and other services may return VOIs for previous inactive employers. Inactive employers are indicated in this section. Select View to to review the inactive VOI details.
Merge Active-Inactive VOEs: This task allows you to create a blended two-year calculation using active employer and inactive employer VOEs from the prior two years. To combine the pay histories, click Merge.
Freddie Mac AIM Confirm Employment Start Dates VOE: If a VOE was ordered for the loan and OCR captured for one or more companies and/or borrowers, the VOE employment date(s) values will be populated. These fields are not editable.
Freddie Mac AIM Confirm Employment Start Dates 1003/LOS: For this task, enter the employment start date for each company and borrower. Click update for each entry, separately, to submit to Freddie Mac AIM.
Freddie Mac AIM Reference Number: Income Analysis will automatically populate these fields with the most current reference number. Use the copy icon to copy and paste the reference number from Income Analysis to LPA to obtain rep and warrant relief.
Self Employment-Related Tasks
Confirm Business Start Dates: This task enables you to review and update start dates for businesses included in your analysis. To review the current start dates, click the associated expand icon. From here, you can modify start dates inside the date fields. Click Update to apply changes.
View Fannie Mae Manual Options: This task enables you to review the Fannie Mae Manual Options returned by your income analysis. To review these options, click the associated expand icon. From here, you can make updates in the Manual Options section of the dialog and click Save Changes or Resend.
Match Self Employed Companies: This task enables you to match a borrower’s prior companies, those without a matching tax year, to current companies. Select the match from the dropdown, then click Update.
Update Business Ownership from 0%: This task enables you to update business ownership if it is listed as 0% and resubmit to GSEs.
Resend Freddie: This task enables you to send updated calculations to Freddie Mac. To resend a file, click Send.
Ensure Profit and Loss Capture: This task ensures that Profit and Loss (P&L) data is entered when the data is required by the lender's configuration.
Rental-Related Tasks
Update PITIA: This task allows you to enter the current principal, interest, taxes, insurance and association dues (PITIA) value for each rental property. To update the value, modify the information in the PITIA field and click Update.
Rental Matching: This task enables you to match property addresses from different years. To review related rental property information, click the associated View button. From the Rental tab, select the matching option pop-up for the unmatched property.