Magic Minutes training 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 training series on evaluating and calculating borrowers’ income, broken down into individual modules that each focus on a specific type of income.
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Qualifying income
Learn how to analyze borrowers’ qualifying income and review documentation for eligibility based on the type of income (fixed or variable).
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Calculating fixed income
Get tips to determine the difference between bi-weekly and semi-monthly pay and learn the importance of validating income documentation.
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Calculating variable income
Assess a file's overall risk and discover some helpful rules and guidelines for calculating changing income: commissions, overtime, shift differential and bonuses.
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Non-taxable income
Increase qualifying income by exploring non-taxable income, like Social Security, child support and alimony, and learn how to “gross up” non-taxable portions.
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Challenging income
Prepare yourself for calculating the income of borrowers who are teachers, seasonal and union workers, postal workers, or military personnel.
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Income conundrums
Calculate unusual scenarios: 1099 income (travel nurses, clergy, truck drivers), temporary leave, unemployed with job offer, or ineligible income.
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Restricted stock units (RSUs)
Discover how to document, analyze and calculate RSU income. Learn how to identify income eligibility, then follow along with 2 case studies.
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Origination & servicing tools tutorials
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