NEW SERIES: Evaluating & Calculating Borrowers’ Income
Efficiently assess whether a borrower will be able to make a new mortgage payment AND meet their other monthly obligations. Watch this new training series on evaluating and calculating borrowers’ income, broken down into 6 individual modules that each focus on a specific type of income.
Qualifying income
This introductory video in the training series explores how to review and analyze employment and income for stability and continuance to determine if it can be used for qualifying. You’ll learn the difference between fixed and variable income, and how to review income documentation for eligibility.
Click on the video to watch.
Calculating fixed income
Did you know that when a borrower gets paid plays as crucial a role as how much they get paid? You’ll learn tips to determine the difference between bi-weekly and semi-monthly pay, and you'll discover the importance of validating the income documentation before you begin calculating your borrower’s qualifying income.
Click on the video to watch.
Calculating variable income
Calculating variable income, such as commissions, overtime, shift differential and bonuses, can be perplexing. In this training series video, you’ll learn how assessing the overall risk present in a file plays an important role in income calculation, and you'll discover some helpful rules and guidelines.
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Non-taxable income
Challenging income
Income conundrums
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