Income sources

Income sources

List  of all the income sources you will collect details on from borrowers. This does not include employment income if the borrower is an individual. Other sources of income are used to:
  1. collect information from the borrower at time of creating the quote/application
  2. collect information from the borrower by the credit assessors at time of evaluation
  3. used to calculate surplus (NDI)
  4. used to calculate debt to income ratio (DTI)


1. To create a Income Source navigate to Configuration -> Setup

2. Select Other Income Sources under the finance agreements section.

3. Click on  icon to create a new income source.

4. Provide the details for the income source. 




 For each income the following will need to be supplied

 

Description
Display As
Available During Origination
Income Source Applies To
Include in surplus
Include in DTI
To identify what the income source is
This is what will appear on the pages/screens when the  income source is prompted for or presented
There may be instances where you would like the income source to not appear on the application page for the borrower to supply details but would like the income source available to the credit assessor to collect information at time of evaluation.
Income source can be created that are specific to individual borrowers and also specific to business borrowers. If an application exists for a business only income sources that apply to the business will be presented on the pages. Likewise for individuals.
If the income source is to be included in the surplus (NDI) calculation.
If the income source is to be included in the debt to income (DTI) calculation. 


5. After providing the details click   to create the new income source. 


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