Attend this foundational session to learn how to calculate the most basic types of income including: base income, hourly pay including overtime, commission, bonus income, and tip income.
In this course you will learn to:
• Calculate base pay and discuss the nuances of including additional income sources, such as overtime, commissions and bonus pay
• Document income based on GSE requirements and when to compare to your company’s guidelines
• Analyze the VOE to assess the borrowers pay history and employment status for the purposes of income qualification
• How to address part time or secondary income types, employment gaps, unemployment benefits and contractual employment
• Gain a deeper understanding of the risk levels associated with income and employment
