CLOSING_IncomeTypeEnumerated
Title
CLOSING_IncomeTypeEnumerated

Description
No Documentation Available

Used By
\LOAN\_APPLICATION\BORROWER\CURRENT_INCOME\IncomeType ( IncomeType )

Codes
Value Description
AlimonyChildSupportPeriodic amount paid under terms of divorce decree / agreement. Income if borrower receives. Collected on the URLA in Section V (Monthly Income - Other).
AutomobileExpenseAccount
BaseFor salaried positions, the monthly amount of salary (annual salary/12). For hourly positions, the income that would arise from 52 weeks of work at the usual and customary number of non-overtime hours per week / 12. Collected on the URLA in Section V (Mon
BoarderIncome
BonusIncome derived from optional compensation paid out by employer, linked to employers overall performance and/or individual performance. Collected on the URLA in Section V (Monthly Income - Bonuses).
BorrowerEstimatedTotalMonthlyIncomeThe borrower monthly income amount used by the lender to qualify the borrower for the loan.
Commissionsborrower income that is based upon a percentage of the goods or services the borrower sells (e.g., gross Realtor commission = 6%) Collected on the URLA in Section V (Monthly Income - Commissions).
ContractBasisIncome received on a contract or per job basis. Recipients are classified by employers as independent contractors and not considered employees.
DividendsInterestFunds paid to owners of stocks or bonds by issuer of stock or bond. Collected on the URLA in Section V (Monthly Income - Dividends / Interest).
FosterCare
MilitaryBasePay
MilitaryClothesAllowance
MilitaryCombatPay
MilitaryFlightPay
MilitaryHazardPay
MilitaryOverseasPay
MilitaryPropPayExtra income paid to military people that have professional degrees, such as military doctors, dentists, lawyers, etc
MilitaryQuartersAllowance
MilitaryRationsAllowance
MilitaryVariableHousingAllowance
MortgageCreditCertificateThe maximum possible mortgage credit certificate income available to the borrower. States and other political subdivisions can issue mortgage credit certificates (MCC's) in place of, or as part of, their authority to issue mortgage revenue bonds. Mortgage
MortgageDifferentialIncome used when an employer subsidizes and employees mortgage payments by paying all or part of the interest differential between the employees present and proposed mortgage payments.
NetRentalIncome
NotesReceivableInstallment
OtherTypesOfIncomeUsed in conjunction with a textual description of other types of income. Collected on the URLA in Section V (Monthly Income - Other).
OvertimeAdditional hourly compensation paid for work beyond the usual and customary work period. Collected on the URLA in Section V (Monthly Income - Overtime).
PensionPeriodic amount paid by employer to persons who have retired from employer after attaining necessary term of service and other attributes. Collected on the URLA in Section V (Monthly Income).
ProposedGrossRentForSubjectPropertyThe anticipated rent on the subject property if it is an investment property or if a 2-4 property where other units are rented.
PublicAssistanceAmount paid to borrower by federal, state or local public assistance program
RealEstateOwnedGrossRentalIncomePeriodic gross rents (before expenses) arising from a piece of real estate owned (or to be owned) by borrower. Collected on the URLA in Section VI (Schedule of Real Estate - Gross Rental Income).
SocialSecurityIn the US, monthly amount paid to recipients of OASI (Old Age and Survivors Insurance) commonly known as Social Security. Collected on the URLA in Section V (Monthly Income).
SubjectPropertyNetCashFlow
TrailingCoBorrowerIncome
Trust
UnemploymentAmount paid or payable to borrower from state or Federal unemployment insurance program.
VABenefitsNonEducationalDollar amount of VA Benefits excluding education benefits available to a veteran borrower. Collected on the URLA in Section V (Monthly Income).
WorkersCompensationAmount paid or payable to borrower from Workers Compensation Insurance program, usually for injuries that prevent borrower from working. Collected on the URLA in Section V (Monthly Income).