Foundations on Demand

Basics of Income

Understand and calculate basic types of borrower income.

Introduction

Get acquainted with the mortgage banking industry and boost your knowledge of existing staff with usable income types.

There is no video for this lesson. Complete the corresponding section of the workbook and continue.

 

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Base Pay

Learn how to calculate base income in a variety of scenarios.

Overtime Commission and Bonuses

Tackle the nuances, necessary documentation and sources for overtime, commissions and bonuses as qualifying income.

Tips Gratuity and Part-Time

Understand which documents validate tips and gratuity, as well as part-time income. Complete the corresponding workbook section.

There is no video for this lesson. Complete the corresponding section of the workbook and continue.

 

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Second Job and Multiple Job Families 

Explore the main considerations for second job income and borrowers with multiple jobs.

Gaps in Employment and Job Changes 

Learn what to ask when verifying job changes and employment gaps. You’ll also explore the key factors in determining the stability of income.

Unemployment Income and Contractual Employees 

Understand the basics of using unemployment income and what considerations are used for contractual work.

Additional Ways to Verify 

Explore additional ways to verify employment and income in the corresponding workbook section.

There is no video for this lesson. Complete the corresponding section of the workbook and continue.

 

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8 Training Lessons