Paystubs
List of requirements on a pay stub (6)
What is customers name, employer name, pay dates, net income, earning type, full document?
This document is required for employed customers.
What is PS1?
These are the basic document requirements for new loans
What is DL and PS1-2 for employed OR DL and AL for SSI/RET/VET, etc?
List of basic requirements on an Awards Letter (3)
What is customers name, benefit type, full document?
Commissions/draws are acceptable under this stipulation
What is consistency? PS3 may be required to confirm consistency if you are unable to do so with PS1-2 or YTD.
This document is required for Self Employed customers.
What is personal BS1? If we NEVER requested a tax form, we only need a tax form if the BS is a joint account.
This document is required if basic information is not matching the application. List of scenarios when this document is requested. (3)
What is Verification of Address? Address on PS and ID do NOT match application (MA) but same state. Out of state taxes (OSI). Out of state/MISC ID (OSI).
List of ID's we cannot accept (5)
What are blurry ID's, expired ID's, ID's with a hole punch or broken/cut in half, Privilege Only, Out of Country Passport/Visa?
NEW LOAN: This document is requested if the customer doesn't have the current years AL. List of requirements. (3)
What is BS1? Deposit name matches, amount is the same (possibly a little more due to COLA), customers name is on BS1. *Doesn't have to be full BS1- can accept partial as long as all info is visible.
Tips/Bonuses are acceptable under this stipulation
What is if the Customer meets the income requirement with their hourly pay can we add the tips/bonus to increase their current monthly income?
This document is required if a payment has been made recently on their account- on their 2nd-5th loan.
What is ACH BS? Required if payment is made via ACH ONLY in last 4 business days
List of requirements for VOA (4)
What is full document, has customers name, date (30 days in past or 15 days in future), cannot be final notice?
List of acceptable ID's in CONJUNCTION with VOA OSI (6)
What are US Passport, US Passport Card, Concealed Weapon Permit, Military/Veterans ID, US Territory ID, and Permanent Resident ID?
NEW LOAN: These are the 2 stipulations for combining sources
What is we can combine the SAME source to meet the income requirement? We cannot combine OTHER sources to meet the income requirement.
This type of workers comp is accepted under these conditions (3)
What is long term workers comp? Needs to have an expiration date longer than 8 months, indefinite status, or we need to confirm with employer. We do not accept short term workers comp.
This document may be requested for employed customers if their most recent pay stub is low- on their 2nd-5th loan.
What is PS2? If PS1-2 combined MEETS income, proceed. # of loans does matter- listed in manual.
If PS1 is low or the majority is NOT regular hours, we need to obtain this.
What is verbal/written verification of employment?
This type of image is acceptable unless there are any other red flags.
What is a scanned ID?
RELOAN 2+: These are acceptable documents for AL customers.
What is this years AL if not already on file OR BS1 to confirm the deposit? *If this years AL is already on file from a prior loan, we would request BS1.
This is listed as a deduction but we can add it with the net pay to have the customer meet the income requirement.
What is advance or allotment?
List of situations for when VOA is needed (4)
What is given an out of state address, new out of state ID, new job located in different state, PS show they are paying taxes in a different state? DEMOS is enough for VOA for reloans unless one of the above red flags is present.
These 2 documents are required for Self Employed customers/
What is last years tax form and personal BS1?
New & Reloan Requirement for ID
What is we always need a current valid ID on file?
RELOAN: If the AL customer is not meeting income, this would happen to their application.
What is if its their 2nd-5th loan, DENY. If its their 6+ loan, discuss with manager to see if we can proceed.