Sec4-P41

A borrower applies for a mortgage using income that has varied from year to year. The loan originator notes that the borrower also owns additional real estate and liquid assets that could be sold if future income decreases. The loan originator must determine whether this income may be used for qualification.

A borrower receives Social Security retirement income based on their own work history. The loan originator reviews whether this income may be used for qualification.

A borrower receives Social Security income on behalf of a family member. The loan originator evaluates whether this income may be used to qualify.

A borrower receives long-term disability income from a private insurance provider. The loan originator reviews what documentation is required.

A borrower receives long-term disability income that requires periodic re-certification but has no defined end date. The loan originator evaluates whether the income may be used.

A borrower is currently receiving short-term disability benefits that will convert to long-term disability. The loan originator determines which income amount should be used.

A borrower claims disability income but cannot provide documentation verifying eligibility or duration. The loan originator evaluates whether the income may be used.

A borrower’s income includes both capital gains and disability income. The loan originator evaluates whether both may be used for qualification.