Income Series Part 2- Reviewing and Calculating Military ...
[Pages:41]Income Series Part 2- Reviewing and Calculating Military Income
November 2016
Genworth Mortgage Insurance Corporation
?2016 Genworth Financial, Inc. All rights reserved.
Objective
Understand the different types of income and the Leave and Earning Statement (LES)
? Military Status ? Documentation Requirements ? Documentation Review ? LES Review Reference Guide
Review and Calculate Military Income
2
The Mortgage Application 1003/65
Review and Calculate Military Income
3
Review and Calculate Military Income
4
Calculating Income
5
New URLA (1003)
Review and Calculate Military Income
6
Employer
Review and Calculate Military Income
7
Military Status
Enlisted
? Enlistment
Officer
? Non-Commissioned (NCO) ? Commissioned
For Borrowers who are active-duty members of the United States Armed Forces, a history of military employment is not required for the employment to be considered stable.
Review and Calculate Military Income
8
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