Selling Guide

Published April 07, 2021

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What are the general income documentation requirements for DU?

General Income Documentation Requirements

DU indicates the minimum income verification documentation required to process a loan application. This level of documentation may not be adequate for every borrower and every situation. The lender must determine whether additional documentation is warranted. If the lender is unable to determine the stability of the borrower’s income on the basis of the available documentation, the income must be removed and the loan resubmitted to DU. 

The standards for employment documentation are the same for DU loan casefiles as they are for manually underwritten loans. For example, paystubs, W-2s, and tax returns must meet the same requirements without regard to the underwriting method. For additional information, see B1-1-03, Allowable Age of Credit Documents and Federal Income Tax Returns, and Section B3-3.1, Employment and Other Sources of Income. 

Note: Only actual employer information should be entered in the employment section of the loan application. For example, do not enter “retired” or “homemaker” as the borrower’s current employer. 

For additional information, see B3-3.5-01, Income and Employment Documentation for DU.  

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