e. Income from Non-Military Employment (continued)

Verification:  Alternative Documentation

Alternative documentation may be submitted in place of a VOE if the lender concludes that the applicant’s income is stable, reliable, and anticipated to continue during the foreseeable future; that is, if the applicant’s income qualifies as effective income.

2 years employment is not required to reach this conclusion.

Alternative documentation consists of

·   pay stubs covering at least the most recent 30-day period

-Note: It is acceptable for Department of Defense civilian employees to provide computer generated pay stubs accessed through through myPay (Formerly known as E/MSS - Employee Member Self Service).

·   W-2 forms for the previous 2 years, and

·   telephone verification of the applicant’s current employment.

-Document the date of verification and the name, title, and telephone number of the person with whom employment was verified.

If the employer is not willing to give telephone verification of applicant’s employment or the pay stubs or W-2 forms are in any way questionable as to authenticity, use standard documentation.  Alternative documentation cannot be used.

Pay stubs and W-2 forms may be originals or copies certified by the lender to be true copies of the originals.

Verification:  Additional Documentation for Persons Employed in the Building Trades or Other Seasonal or Climate-Dependent Work

In addition to the standard documentation (VOE and pay stub), obtain

·   documentation evidencing the applicant’s total earnings year to date

·   signed and dated individual income tax returns for the previous 2 years, and

·   if applicant works out of a union, evidence of the union’s history with the applicant.