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.

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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.

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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

This short training series video explores the different types of non-taxable income, like Social Security, child support and alimony, and explains how to “gross up” the non-taxable portion of your borrower’s income to arrive at the adjusted gross income.

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Challenging income

Certain types of occupations can make it much more challenging to calculate some borrowers’ income. Watch this brief training series video for guidance when you’re dealing with borrowers who are teachers, postal workers, seasonal or union workers, or in the military.

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Income conundrums

Scratching your head trying to figure out how to calculate your borrower’s income under unusual circumstances – like when your borrower is between jobs or on leave? This brief training series video will help prepare you for handling different types of income conundrums.

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