reviewing and calculating income from miscellaneous sources · other income types that may or may...
TRANSCRIPT
![Page 1: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/1.jpg)
Genworth Mortgage Insurance Corporation ©2019 Genworth Financial, Inc. All rights reserved.
Reviewing and Calculating Income from Miscellaneous Sources
March 2019
![Page 2: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/2.jpg)
2Reviewing & Calculating Income from Miscellaneous Sources
ObjectiveUnderstand the Different Types of Income and How to Document Them
– Commission– Bonus and Overtime– Tip Income– Temporary Leave– Seasonal & Unemployment– Capital Gain– Alimony & Child Support– Social Security
• Tax Exempt– Public Assistance
![Page 3: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/3.jpg)
URLA or Form 1003/65
3Reviewing & Calculating Income from Miscellaneous Sources
https://www.fanniemae.com/singlefamily/uniform-residential-loan-application
![Page 4: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/4.jpg)
Uniform Residential Loan Application (URLA) Timeline UpdateJuly 1, 2019 Begin Use
– Finalized Demographic InformationAddendum
– URLA Effective Dates– Desktop Underwriter® (DU®)
Specification Timeline
Reviewing & Calculating Income from Miscellaneous Sources 4
![Page 5: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/5.jpg)
Uniform Mortgage Data Program® (UMDP ®)
Reviewing & Calculating Income from Miscellaneous Sources 5
July 1, 2019 Begin Use– Freddie Mac timelines
![Page 6: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/6.jpg)
6Reviewing & Calculating Income from Miscellaneous Sources
https://www.fanniemae.com/singlefamily/uniform-residential-loan-application
![Page 7: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/7.jpg)
New URLA (1003)
7Reviewing & Calculating Income from Miscellaneous Sources
![Page 8: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/8.jpg)
Income Entry
8Reviewing & Calculating Income from Miscellaneous Sources
![Page 9: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/9.jpg)
Freddie Mac
9Reviewing & Calculating Income from Miscellaneous Sources
![Page 10: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/10.jpg)
Selling Guide Income Topic 5300 Revised
10Reviewing & Calculating Income from Miscellaneous Sources
![Page 11: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/11.jpg)
Income Continuance RequirementsIncome continuance charts were added to Topic 5301.1– Income and earnings types typically without documentable
continuance– Income types with documentable continuance– Other income types that may or may not have documentable
continuance
11Reviewing & Calculating Income from Miscellaneous Sources
Freddie Mac’s Single-Family Seller/Servicer Guide Series 5000: Origination and Underwriting
Topic 5300: Stable Monthly Income and Asset Qualification Sources
Chapter 5301: General Requirements for All Stable Monthly Income and Asset Qualification Sources
![Page 12: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/12.jpg)
Employed Income TypesPrimary
– Borrower’s primary source of employed incomeSecondary
– Second job, part-time job or multiple jobsAdditional
– Commissions– Bonus– Overtime– Tips– Auto allowance– Mortgage differential– Military entitlements– Military Reserves & National Guard– Unemployment with seasonal employment
12Reviewing & Calculating Income from Miscellaneous Sources
Primary
SecondaryAdditional
Freddie Mac’s Single-Family Seller/Servicer Guide Topic 5300
![Page 13: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/13.jpg)
Loan Product Advisor Documentation Matrix and Rental Matrix
13Reviewing & Calculating Income from Miscellaneous Sources
http://www.freddiemac.com/learn/uw/index.html
![Page 14: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/14.jpg)
Fannie Mae
14Reviewing & Calculating Income from Miscellaneous Sources
![Page 15: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/15.jpg)
15Reviewing & Calculating Income from Miscellaneous Sources
https://www.fanniemae.com/content/guide/selling/b/index.html
![Page 16: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/16.jpg)
Fannie Mae Commission Income
16Reviewing & Calculating Income from Miscellaneous Sources
![Page 17: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/17.jpg)
Fannie Mae Commission Income
17Reviewing & Calculating Income from Miscellaneous Sources
![Page 18: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/18.jpg)
Fannie Mae Commission Income
18Reviewing & Calculating Income from Miscellaneous Sources
![Page 19: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/19.jpg)
Freddie Mac Commission Income
19Reviewing & Calculating Income from Miscellaneous Sources
![Page 20: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/20.jpg)
Fannie Mae Bonus and OT
20Reviewing & Calculating Income from Miscellaneous Sources
![Page 21: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/21.jpg)
Fannie Mae Bonus and Overtime
21Reviewing & Calculating Income from Miscellaneous Sources
![Page 22: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/22.jpg)
22Reviewing & Calculating Income from Miscellaneous Sources
Freddie Mac Bonus and OTSingle-Family Seller/Servicer GuideSeries 5000: Origination and UnderwritingTopic 5300: Stable Monthly Income and Asset Qualification Sources Chapter 5303: Employed Income5303.3: Additional employed income (09/14/17)
![Page 23: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/23.jpg)
Freddie Mac’s Loan Product Advisor® -Bonus and OT
23Reviewing & Calculating Income from Miscellaneous Sources
http://www.freddiemac.com/learn/uw/index.html
![Page 24: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/24.jpg)
Tip Income - Fannie Mae DU
24Reviewing & Calculating Income from Miscellaneous Sources
https://www.fanniemae.com/content/guide/selling/b3/3.1/09.html#Tip.20Income
![Page 25: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/25.jpg)
25
Tip Income - Freddie MacTip income The Borrower must have a two-year consecutive history of receivingincome from tips in order to consider the income for qualifying. For tip income that fluctuates, the Seller must evaluate the income trend and use the amount that is most likely to continue for the next three years
Reviewing & Calculating Income from Miscellaneous Sources
http://www.freddiemac.com/learn/uw/index.html
![Page 26: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/26.jpg)
Freddie Tip Income
26Reviewing & Calculating Income from Miscellaneous Sources
Single-Family Seller/Servicer GuideSeries 5000: Origination and UnderwritingTopic 5300: Stable Monthly Income and Asset Qualification SourcesChapter 5303: Employed Income5303.3: Additional employed income (09/14/17)
![Page 27: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/27.jpg)
Freddie Mac Selling Guide
27Reviewing & Calculating Income from Miscellaneous Sources
![Page 28: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/28.jpg)
Temporary Leave - Fannie Mae
28Reviewing & Calculating Income from Miscellaneous Sources
https://www.fanniemae.com/content/guide/selling/b3/3.1/09.html
![Page 29: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/29.jpg)
Temporary Leave - Fannie Mae
29Reviewing & Calculating Income from Miscellaneous Sources
![Page 30: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/30.jpg)
Temporary Leave - Fannie Mae
30Reviewing & Calculating Income from Miscellaneous Sources
https://www.fanniemae.com/content/guide/selling/b3/3.1/09.html
![Page 31: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/31.jpg)
Temporary Leave - Freddie Mac
31Reviewing & Calculating Income from Miscellaneous Sources
Single-Family Seller/Servicer Guide
Series 5000: Origination and Underwriting
Topic 5300: Stable Monthly Income and Asset Qualification Sources
Chapter 5303: Employed Income
5303.5: Income while on temporary leave (09/14/17)
![Page 32: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/32.jpg)
Temporary Leave - Freddie Mac
32Reviewing & Calculating Income from Miscellaneous Sources
![Page 33: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/33.jpg)
Seasonal Employment and UnemploymentSeasonal employment and unemployment compensation The Borrower must have a two-year consecutive history of receivingincome from seasonal employment and the seasonal employment income must be likely to continue for at least the next three years in order to consider the income for qualifying. Unemployment compensation associated with seasonal employment may be considered qualifying income if the Borrower has a two-year history of receipt and the unemployment compensation is likely to continue for at least the next three years. The Seller must not use seasonal employment income or unemployment compensation to qualify the Borrower unless the income is reported on the Borrower's individual federal income tax returns for the most recent two-year period
33Reviewing & Calculating Income from Miscellaneous Sources
![Page 34: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/34.jpg)
Tax Return Review for UnemploymentAppears on the 1040; 2018 Appears on the Schedule 1 to the 1040 2017
34Reviewing & Calculating Income from Miscellaneous Sources
![Page 35: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/35.jpg)
Unemployment - Fannie Mae
35Reviewing & Calculating Income from Miscellaneous Sources
![Page 36: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/36.jpg)
Seasonal Income - Fannie Mae
36Reviewing & Calculating Income from Miscellaneous Sources
![Page 37: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/37.jpg)
Freddie Mac - Unemployment
37Reviewing & Calculating Income from Miscellaneous Sources
http://www.freddiemac.com/learn/uw/index.html
![Page 38: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/38.jpg)
Non-Employment Income Sources
38Reviewing & Calculating Income from Miscellaneous Sources
![Page 39: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/39.jpg)
Fannie Mae Capital Gain Income
39Reviewing & Calculating Income from Miscellaneous Sources
![Page 40: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/40.jpg)
Freddie Mac Capital Gain Income
40Reviewing & Calculating Income from Miscellaneous Sources
Single-Family Seller/Servicer GuideSeries 5000: Origination and UnderwritingTopic 5300: Stable Monthly Income and Asset Qualification SourcesChapter 5303: Employed Income5305.2: Specific Requirements for Other Income Types (10/31/18)
![Page 41: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/41.jpg)
Alimony and Child SupportAlimony, Child Support or Separate Maintenance Payments Income from alimony, child support or separate maintenance payments maybe considered qualifying income if the documentation shows that the payer was obligated to make payments to the Borrower for the most recent six months and is obligated to make payment to the Borrower for at least the next three years. Evidence that the payments have been received for the most recent six months is required. If the payer has been obligated to make payments for less than six months, if the payments are not for the full amount or are not received on a consistent basis, the income must not be considered for qualifying
41Reviewing & Calculating Income from Miscellaneous Sources
![Page 42: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/42.jpg)
Alimony and Child Support - Fannie Mae
42Reviewing & Calculating Income from Miscellaneous Sources
![Page 43: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/43.jpg)
Freddie Mac - Alimony and Child Support
43Reviewing & Calculating Income from Miscellaneous Sources
![Page 44: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/44.jpg)
Social Security Income - Fannie Mae
44Reviewing & Calculating Income from Miscellaneous Sources
![Page 45: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/45.jpg)
Freddie Mac - Social Security Income
45Reviewing & Calculating Income from Miscellaneous Sources
http://www.freddiemac.com/learn/uw/index.html
![Page 46: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/46.jpg)
Freddie Mac - Social Security Income
46Reviewing & Calculating Income from Miscellaneous Sources
Single-Family Seller/Servicer Guide
Series 5000: Origination and Underwriting
Topic 5300: Stable Monthly Income and Asset Qualification Sources
Chapter 5305: Other Income
5305.2: Specific requirements for other income types (07/06/17)
![Page 47: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/47.jpg)
Tax Exempt Income - Fannie Mae
47Reviewing & Calculating Income from Miscellaneous Sources
![Page 48: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/48.jpg)
Freddie Mac - Tax Exempt Income
48Reviewing & Calculating Income from Miscellaneous Sources
Single-Family Seller/Servicer Guide Selling
Series 5000: Origination and Underwriting
Topic 5300: Stable Monthly Income and Asset Qualification Sources
Chapter 5305: Other Income
5305.2: Specific requirements for other income types (07/06/17)
http://www.freddiemac.com/learn/uw/index.html
![Page 49: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/49.jpg)
Public Assistance Income - Fannie Mae
49Reviewing & Calculating Income from Miscellaneous Sources
![Page 50: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/50.jpg)
Public Assistance - Freddie Mac
50Reviewing & Calculating Income from Miscellaneous Sources
Single-Family Seller/Servicer Guide Selling
Series 5000: Origination and Underwriting
Topic 5300: Stable Monthly Income and Asset Qualification Sources
Chapter 5305: Other Income
5305.2: Specific requirements for other income types (07/06/17)
![Page 51: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/51.jpg)
Automobile Allowance - Fannie Mae
51Reviewing & Calculating Income from Miscellaneous Sources
![Page 52: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/52.jpg)
Automobile Allowance - Freddie Mac
52Reviewing & Calculating Income from Miscellaneous Sources
Single-Family Seller/Servicer Guide Selling
Series 5000: Origination and Underwriting
Topic 5300: Stable Monthly Income and Asset Qualification Sources
5303.3: Additional employed income (09/14/17)
![Page 53: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/53.jpg)
Automobile Allowance - Freddie Mac
53Reviewing & Calculating Income from Miscellaneous Sources
http://www.freddiemac.com/learn/uw/index.html
![Page 54: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/54.jpg)
Genworth Underwriting Guidelines
54Reviewing & Calculating Income from Miscellaneous Sources
![Page 55: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/55.jpg)
Genworth Rate Express®
Reviewing & Calculating Income from Miscellaneous Sources 55
![Page 56: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/56.jpg)
LOS Connections
Reviewing & Calculating Income from Miscellaneous Sources 56
![Page 57: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/57.jpg)
Reviewing & Calculating Income from Miscellaneous Sources 57
Training Tools and Information
![Page 58: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/58.jpg)
Training Tools and Information
Reviewing & Calculating Income from Miscellaneous Sources 5858
![Page 59: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/59.jpg)
Additional MI Site Information
59Reviewing & Calculating Income from Miscellaneous Sources 59
![Page 60: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/60.jpg)
60Reviewing & Calculating Income from Miscellaneous Sources
ActionCenter®: 800 444.5664
Your Local GenworthRegional Underwriter
Your Genworth SalesRepresentative
Your Genworth Resources
![Page 61: Reviewing and Calculating Income from Miscellaneous Sources · Other income types that may or may not have documentable continuance Reviewing & Calculating Income from Miscellaneous](https://reader034.vdocuments.mx/reader034/viewer/2022050717/5e14b73217d0e91dfc15cc99/html5/thumbnails/61.jpg)
61Reviewing & Calculating Income from Miscellaneous Sources
Legal Disclaimer Genworth Mortgage Insurance is happy to provide you with these training materials. While we strive foraccuracy, we also know that any discussion of laws and their application to particular facts is subject to individual interpretation, change, and other uncertainties. Our training is not intended as legal advice, and is not a substitute for advice of counsel. You should always check with your own legal advisors for interpretations of legal and compliance principles applicable to your business.
,GENWORTH EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIEDINCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THESE MATERIALS AND THE RELATED TRAINING. IN NO EVENT SHALL GENWORTH BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER WITH RESPECT TO THE TRAINING AND THE MATERIALS.
Collateral Underwriter®, Home Ready ® and Desktop Underwriter® or DU® are registered trademarks of Fannie MaeLoan Product Advisor®, Home Possible®, Home Possible Advantage®, Loan Collateral Advisor® and Home Value Explorer® (HVE®) are registered trademarks of Freddie MacActionCenter®, Homebuyer Privileges® and Rate Express® are registered trademarks of Genworth Mortgage InsuranceSimply UnderwriteSM is a registered service mark of Genworth Mortgage Insurance
Genworth Mortgage Insurance Offers A Comprehensive Suite Of Training Opportunities To Boost Your Know-How, Benefit Your Bottom Line, And Serve Your
Borrowers Better. Visit mi.genworth.com To Learn More.