L1 L2
Formula for calculating Medicare withholdings
Gross pay x 0.0145
DIVO: 25,608.90
Schedule E rental income not in member's name: 50,000.00
1st Schedule C income under member's name: -17,000.00
2nd Schedule C income not in member's name: 50,000.00
3rd Schedule C under member's name: -3,000.00
How much is the usable income?
25,608.90
Contact Info Tab
Give examples of hard utility bill
Electric, water, gas, garbage bill, mortgage statement, lease agreement
The member's verified income is 70% of their stated income and the final loan amount in Employment tab is in color green, what should you do?
Update Income V to Failed and approve the application
If Mitek is "CANCELLED", what should you do?
Submit a fraud referral, put "Mitek is cancelled" in the comments and rank it to 5
When can we include 1040 addbacks as part of usable income calculation?
If the member is self-employed
Carryover process
Credit Review Tab
Most recent W2 we can accept
2024 W2
According to the daily task cadence in Credit, what tools can you use to filter through the applications that need your immediate attention?
Tableau and CRC
Three types of DIVO calculation
BASE, PACE, EAI
EIV loan: 4506-C form is requested. DICE notes say: 4506-T requested, do not submit. Once 4506-C has been received and verified, what steps should we take?
Set 4506-T V to Not Required.
All communications sent to the member will be found here
Communications Tab
This form is filed if the member amends the 1040 that they originally filed with the IRS.
Form 1040-X
We don't accept this type of ID
Military ID
Social security maximum withholding amount for a member who has more than $200,000 income for 2025
$10,453.20
What document is associated with a joint Schedule E business income? What purpose does it serve?
Schedule K-1. T look for potential addbacks and identify ownership interest.
DIVO
Employment Tab
What documents are associated with Foreign-earned income?
Form 2555, Form 2555-EZ, Form 1116
What is the 8th method in VOE
Request most recent paystubs
Member's address stated in the application is a PO box.
Request CC confirming the member's physical address.
In a Schedule E rental income calculation...
If the member did not qualify with the 75% method calculation, what steps can we do?
Calculate rental income using rental addback method.
Fraud Referral
Contact Info Tab
What type of income does SSA award letter SSA 1099, and VA award letters report?
Social security benefits income
Angie Stoyanova