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Analyzing Self-Employed Borrowers 401 – Overcoming Tough Challenges
Heads up: This course assumes you are comfortable building income from tax returns. Calculating the qualifying income of a self-employed borrower is often challenging, but throw an extraordinary or unusual event into the mix, and it becomes daunting! Let us help you identify where to start, what additional documentation is needed and how to analyze income trends.
Topics include:
- Questions to consider regarding environmental or economic events and their impact on your borrower’s business
- When net operating loss carryover can be added back
- What steps to take if your borrower has filed an extension
- What further review is required when your borrower is using business funds for closing and/or omitting debts paid by the business
- Impact of YTD earnings on qualifying income
Available to download:
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Sandra Sweeney
Senior Customer Trainer
MGIC
Meet Sandra Sweeney
Sandra is a mortgage industry veteran with over 35 years of experience. Her varied roles in operations, loan origination, underwriting and management give her a deep understanding and appreciation for many roles present in the industry. Sandra rejoined MGIC in 2013 as an underwriter and recently transitioned to a full-time customer trainer and training program developer. She currently facilitates many of the MGIC national webinar courses. Sandra and her family reside by the water on Smith Mountain Lake, Virginia. In her free time, she enjoys boating, swimming and hiking.
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