Verification of Commission Income
The following table provides verification requirements for commission income.
|✓||Verification of Commission Income|
|A minimum history of 2 years of commission income is recommended; however, commission income that has been received for 12 to 24 months may be considered as acceptable income, as long as there are positive factors to reasonably offset the shorter income history.|
|One of the following must be obtained to document commission income:
|A verbal VOE is required from each employer. See B3-3.1-07, Verbal Verification of Employment, for specific requirements.|
|See B3-3.1-01, General Income Information, for additional information about calculating variable income.|
|See B3-3.1-02, Standards for Employment Documentation, for additional information about verifying employment income.|
For more information, see B3-3.1-04, Commission Income.
*For a complete list of forms used in fulfilling requirements contained in the Selling and Servicing Guides, see the Guide Forms page.