CHICAGO, May 14, 2025 (GLOBE NEWSWIRE) — Gateless, a leading innovator in mortgage automation technology, today announced its integration with Fannie Mae’s Income Calculator. This strategic collaboration enables mortgage lenders to quickly and accurately calculate income from self-employment, business ownership, or rental properties, with the speed and certainty offered by Fannie Mae.
Lenders will benefit from increased opportunities tied to the real-time calculation of qualified income, like operational efficiency, accelerated borrower experience, and lender certainty. These calculations are eligible for rep and warrant relief from Fannie Mae, enabling lenders to originate loans with greater confidence and minimized risk exposure.
Gateless customers can now take advantage of a strategic integration with Fannie Mae through our flagship automated underwriting solution, Smart Underwrite®, and our income verification solution, VeriClear™. Leveraging Gateless’ advanced optical character recognition (OCR) technology, robust direct-source integrations, and powerful underwriting rules engine, lenders can automate complex income calculations and underwrite loans with greater accuracy — streamlining workflows, enhancing data integrity, and reducing the risk of defects.
Smart Underwrite® delivers end-to-end underwriting automation that begins at the point of sale. It analyzes and interprets both documents and data the moment they’re received, calculating income in real time, clearing conditions, and enabling faster underwriting decisions with minimal manual input.
With the integration of Fannie Mae’s Income Calculator, Smart Underwrite® customers now gain even greater confidence in income analysis, particularly for self-employed borrowers. Income Calculator uses tax return data and current Fannie Mae Selling Guide requirements to deliver an accurate monthly income calculation and actionable insights, helping reduce common errors and simplify the underwriting process. When a lender uses Income Calculator, they are eligible to receive enforcement relief from representations and warranties for the income calculation on conventional loans.
“Integrating with Fannie Mae’s Income Calculator is another positive step forward for Gateless,” said Katie King, Chief Risk Officer at Gateless. “Our technology automates the intricate process of income analysis and ensures lenders receive precise, accurate income calculations quickly, whether for traditional wage earners or increasingly common self-employed borrowers. This partnership reinforces our commitment to automating the simple and simplifying the complex in mortgage origination.”
Gateless’ integration delivers clear, actionable reports and minimizes manual intervention throughout the income verification process. This advancement enhances operational efficiency and improves customer experience by speeding up loan decisions, reducing the risk of post-purchase loan defects and repurchase incidents.
This new capability is available to Gateless customers as of May 12, 2025. Gateless is the latest technology service provider authorized to supply, on behalf of its customers, data sourced directly from tax returns for assessment by Fannie Mae’s Income Calculator. For more information about how to get started with Fannie Mae’s Income Calculator, visit: https://www.fanniemae.com/incomecalculator
For more information about Gateless, or to request a demo, please visit or contact us directly at www.gateless.com and [email protected].
Media Contact:
Katie King
Chief Risk Officer, Head of Partnerships
804-814-3299
About Gateless
Gateless, an innovative mortgage technology company, combines unmatched industry knowledge, expert systems, robotic process automation (RPA), and patent pending machine learning and vision-based AI to create solutions that will forever change the way mortgages are originated. Founded in late 2020, the company is on a mission to simplify mortgage lending and transform the borrower experience through intelligent, real-time, automation. To learn more or demo our solutions, visit www.gateless.com and follow us on social media at LinkedIn.
