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Foundations on Demand
Basics of Income
Understand & 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.
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.
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.
550 East Swedesford Road
Suite 350
Wayne, PA 19087
Suite 350
Wayne, PA 19087