The iMP will prompt the user to select an Employment Type on the Income tab when entering a New Refinance/New Purchase loan application. The Current Employer section will dynamically change depending on the option the user chooses for the Borrower’s Employment Type. The user will first be prompted to make a selection.
The user will have 5 options to choose from when selecting an Employment Type: Active Military Duty, Salaried Employee, Self Employed, Retired, Other/Unemployed.
- Active Military Duty - will prompt several unique options for the user to choose from such as:
- Rank, Years on this job, Years in same field, Branch, Business Phone, Address, Military Base Pay, Military Clothes Allows, Military Combat Pay, Military Flight Pay, Military Hazard Pay, Military Overseas Pay, Military Prop Pay, Military Quarters Allowance, Military Rations Allowance, Military Variable Housing Allowance
- Salaried/Self Employed -will prompt several unique options for the user to choose from such as:
- Position, Type of Business, Years on this job, Years in same field, Company Name, Business Phone, Address, Base Salary, Overtime Pay, Bonuses, Commissions
- Retired - will prompt the user to enter a Retirement Date as well as additional income types within the Other Income
- Other/Unemployed – is meant to capture unemployed, non-working spouses, or spouses whose income does not need to be included for qualification purposes.
If the user starts a New Prospect loan application the Income tab will update according to their selection made on the Employment Type within the Qualifying Information section. The Income will also update if the Employment Status is updated within Employment & Background on the Personal tab.