Enact Holdings, Inc. · NASDAQ:ACT
Enact — Investor Presentation (August 2020)
21 slides from Enact's investor presentation, August 2020
Slide 1: Calculating Income: Part II The Exercises
Calculating Income: Part II The Exercises August 2020 Customer Education Brought to you by: Genworth Customer Development and Process Consulting ©2020 Genworth Financial, Inc. All rights reserved. 0
Slide 2: Agenda
Agenda What we will cover – Practice Cases – Genworth Website – Helpful tools We Are Covering Conventional Loans Only In Today’s Session Calculating Income 1
Slide 3: Exercises
Exercises Calculating Income 2
Slide 4: Genworth Income Calculation Worksheet
Genworth Income Calculation Worksheet https://new.mi.genworth.com/self-employed-borrower-calculators Calculating Income 3
Slide 5: Sometimes there are several ways to calculate income!
Income Calculation Exercises Keep in Mind: Sometimes there are several ways to calculate income! Calculating Income 4
Slide 6: Calculation W2's & Paystub and 1099
Calculation W2’s & Paystub and 1099 Local Iron Workers Union W2’s from various jobs Income 18 ’19 `2020 – W2 $52,399 $61,555 *Y-T-D paystub As of 09-30-2020 $59,765 John is unemployed seasonally. What is the qualifying monthly income? Gross Monthly Income Borrower Base Income Self Employed Overtime
Slide 7: Commission Income Example
Commission Income Example 1003/Loan Application indicates the borrower started his current job August 1, 2017. He has provided a current ytd paystub and his year end paystubs for 2017 and 2018. Please calculate the income and would you need anything additional? Gross Monthly Income Borrower Base Inc
Slide 8: Borrower Started August 1, 2017
Gross Monthly Income Borrower Base Income Self Employed Overtime Bonuses Commissions Dividends/Interest Other Sub Total Net Rental Subject Net Cash Total Borrower Started August 1, 2017 Calculating Income 7
Slide 9: Commission Income Example
Commission Income Example 1003/Loan Application indicates the borrower started his current job August 1, 2017. He has provided a current ytd paystub and his year end paystubs for 2017 and 2018. Please calculate the income and would you need anything additional? How often is our borrower paid? Every
Slide 10: Calculation from W2's & Paystub
Calculation from W2’s & Paystub - Sam’s current salary is $35,400 ’18 ’19 ’2020 W-2 $28,897 $30,250 * See pay stub * YTD pay stub as of 12/15/2020 - $33,925 - Sally works as a school nurse and works from Sept 1st- June 30th earning $802 every two weeks. - - She also receives child support for $500 p
Slide 11: Pay Stub with Prior Year W-2
Pay Stub with Prior Year W-2 Calculating Income 10
Slide 12: Calculation from Tax Returns
Calculation from Tax Returns Eli receives $35,000 in social security income as per his 2019 tax returns. His application states he is 42 years old with no dependents. Calculate the monthly social security income ONLY for Eli. Do you have to do anything special? 0 Calculating Income 11
Slide 13: Calculation from VOE
Calculation from VOE Income ‘18 ‘19 ’2020ytd * – Base $50,000 $53,000 $12,500 – Commission $0 $0 $35,000 *Y-T-D- Jan 1 2020 through 6/30/2020 – Assume it is currently 6/30/2020! Donovan’s pay structure changed 1/1/2020 to base plus commission-New Annual Salary is $25000 What is the qualifying monthl
Slide 14: Genworth Underwriting Guidelines
Genworth Underwriting Guidelines Calculating Income 13
Slide 15: Genworth Rate Express
Genworth Rate Express® Calculating Income 14
Slide 16: LOS Connections
LOS Connections Calculating Income 15
Slide 17: Training Tools and Information
Training Tools and Information Calculating Income 16
Slide 18: Training Tools and Information
Training Tools and Information Calculating Income 17
Slide 19: Additional MI Site Information
Additional MI Site Information Calculating Income 18
Slide 20: Your Genworth Resources
Your Genworth Resources ➢ ActionCenter®: 800 444.5664 ➢ Your Local Genworth Regional Underwriter ➢ Your Genworth Sales Representative Calculating Income 19
Slide 21: Legal Disclaimer
Legal Disclaimer Genworth Mortgage Insurance is happy to provide you with these training materials. While we strive for accuracy, we also know that any discussion of laws and their application to particular facts is subject to individual interpretation, change, and other uncertainties. Our train