Basics of Income
Understand and calculate basic types of borrower income.
Basics of Income: Introduction
Module 1 of 9
Get acquainted with the mortgage banking industry and boost your knowledge of existing staff with usable income types.
Basics of Income: Base Pay
Module 2 of 9
Learn how to calculate base income in a variety of scenarios.
Basics of Income: Overtime Commission and Bonuses
Module 3 of 9
Tackle the nuances, necessary documentation and sources for overtime, commissions and bonuses as qualifying income.
Basics of Income: Tips Gratuity and Part-Time
Module 4 of 9
Understand which documents validate tips and gratuity, as well as part-time income. Complete the corresponding workbook section.
Basics of Income: Second Job and Multiple Job Families
Module 5 of 9
Explore the main considerations for second job income and borrowers with multiple jobs.
Basics of Income: Gaps in Employment and Job Changes
Module 6 of 9
Learn what to ask when verifying job changes and employment gaps. You’ll also explore the key factors in determining the stability of income.
Basics of Income: Unemployment Income and Contractual Employees
Module 7 of 9
Understand the basics of using unemployment income and what considerations are used for contractual work.
Basics of Income: Additional Ways to Verify
Module 8 of 9
Explore additional ways to verify employment and income in the corresponding workbook section.
Basics of Income: Check Your Answers
Module 9 of 9
Now that you’ve completed this course, verify your answers.