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