Verification of Commission Income
The following table provides verification requirements for 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 completed Request for Verification of Employment 1005 or 1005S or
the borrower’s recent paystub and IRS W-2 forms covering the most recent one-year period.
See General Income Information, for additional information about calculating variable income.
See Standards for Employment Documentation, for additional information about verifying employment income.
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