Depending on the type of income your borrower has, you may need to complete both processes.
Wage-related income types
- Base pay
- Bonus
- Overtime
- Commission
Process for verifying
- Order a digital income and employment verification report for each eligible income type. If you are not able to digitally verify income and employment, revert to collecting paper documents.
- The income and employment verification report vendor will send you the report(s).
Non-wage related income types
- Social Security
- Pension or annuity
- Self-Employed income (from a Sole Proprietorship)
Process for verifying
- Order a tax transcript for each eligible income and employment type.
- The tax transcript vendor will send you the transcript(s).
Tip: Refer to your report vendor's SLA to determine turnaround time.
If you don't see your borrower's income type listed, revert to collecting paper documents.
Before you review and submit, complete the asset verification steps above if your borrower granted permission for digital asset verification.
Additional Resources
Intro to Income & Employment Validation
Helpful tips to validate your borrower's income and employment quickly
View PDF
Validating Borrower Employment and Income
Take this course to help you validate income and employment in DU and streamline your process.
View Course