TBD Underwriting

Income Calculation Scenario

Borrower Name(Required)

Format: Last, First Name

Loan Number(Required)

Floify ID, Please! Don't Use Any Placeholder.

Credit Score(Required)

Make Sure You Have Collected All Documents And Have Pulled The Soft Pull To Establish DTI And One Credit Score

Loan Amount(Required)

List The Amount You Would Like To Be Approved For. If You Are Just Looking For Max, Type "MAX"

Assets Verified(Required)

Explanation Of Cash To Close Shortage And Plans To Get Rest Of The Assets(Required)

Real Estate Owned(Required)

If Own Any, Explain What Will Happen To Real Estate. Will They Sell Or Is It Leased? If Leased, Make Sure To Put Amount Leased For. If Pending Sale, Put The Amount It Will Be Sold For And Expected Cash To Borrower

Product(Required)

List The Loan Product You Would Like To Get Approved For.

Income Calculation Completed(Required)

Please Let The Pre Underwriting Dept Know What Income Calculation You Attempted Always Know If You Do Overtime Or Commission Income Calculation You Will Need A WVOE Uploaded With The File. If Self Employed, You Need 2-Year Tax Returns.

Accountable(Required)

Loan Officer

Branch Manager

Loan Officer Name:(Required)

Branch Manager Name:(Required)

Section 5 Finances(Required)

30 Day Pay Stubs(Required)

30 Day Most Consecutive Pay Stubs To Review. (In Lending Pad)

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Two year W2s(Required)

Last Two Years Of W2s Of W2s. Make Sure You Have All W2s And 1099s If Multiple Jobs. (In Lending Pad)

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Two Month Bank Statements(Required)

Upload Two Month Bank Statements With The Assets For The Cash To Close. (In Lending Pad)

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Funds to Close(Required)

List where the funds will be coming from.

Previous WVOE(Required)

Make Sure You Have Gotten The Previous Voes If The Person Has More Than One Job In The Last Two Years. If You Discover A Job Gap, Make Sure You Get A LOX On Why And Upload As Well. (In Lending Pad)

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Personal Tax Returns(Required)

Upload These If The Borrower Is 100% Commission, Small Business Owner, Or Is Going Conventional And Has Income Over 25% Is Commission. (In Lending Pad)

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Business Tax Returns(Required)

Upload If The Borrower Is In A Partnership Business Or S Corp. Here Is A Video On How To Know If They Have Business Returns. (In Lending Pad)

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Notes To Scenario Desk(Required)

Please Explain The Situation Of The Borrower. You Are Welcome To Text Or Utilize A Screen Display Recorder Such As Loom.com To Give Details On Loan To Help With The Pre-Approval Process. (If Only Want Income Calculation, Please Advise.)

TBD Underwriting

Income Calculation Scenario

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