Long story short, been battling over income calculations with LO/underwriter.
The problem is, their calculations are completely flawed. They are trying to project my total 2012 earnings based on earnings YTD and then arriving at a monthly income and then multiplying that by 12 to project out the rest of the year. This is one of the many accepted USDA calculation methods. Problem is, YTD includes 3 different once-a-year payments that have already been made to me (bonus, stock, flex pay-out) that I will not be receiving again in 2012 and factoring them into the monthly calculation that will be counted as my income for the next 4 months, so that puts me over the limit. I have evidence from my last paystub of 2011 and other paystubs from 2011 that these are indeed one time payouts and that I am not entitled to any additional payouts this year aside from regular earnings.
I ran the calculations myself by projecting out my regular earnings for the year (my base salary) and then adding on the 3 additional one time payments I received throughout the year. This puts me just under the maximum income limits. I sent this calculation to my LO after business hours on friday. Anyone have any idea if this might work or be considered? The way they are calculating is about $5k more than I will possibly make this year, so I don't think its fair to deny me based on money I will never see. My calculations are based on my knowledge of how my company pays me and presents the closest projection of what I will actually make this year. Will this possibly fly? Would they use my calculations based on the evidence I provided? I even provided a screenshot from my employee handbook showing that one of the pay items is a one-time yearly payment that maxes out at $1,000 based on unused vacation hours. I provided the pay stub that included that payment from March 2012, and was for $987. I WILL NOT be receiving more pay in the category. Another category is stated as an ANNUAL bonus on my paystub and was paid out in Feb of this year. I think that is self explanatory.
Any idea what my chances are of them using my calculations?
