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Analyzing Self-Employed Borrowers 401 – Overcoming Tough Challenges

Recorded on 5/26/26

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 Sweeney, senior customer trainer and training program developer for MGIC, has a mortgage industry career that spans over 4 decades. Her previous experience in loan origination, underwriting and management has given her a deep understanding of and appreciation for various industry roles.


In her current role, Sandra oversees the design of many MGIC training resources, including the self-employed borrower income series, the Magic Minutes training series, and income calculation tools. In developing and facilitating training, she aims to break down complex concepts into easily digestible knowledge and help mortgage professionals build the skills to become trusted advisors for their borrowers.

Sandra lives at Smith Mountain Lake, Virginia, where she enjoys volunteering for various organizations, boating, and enjoying water sports with her family.

 

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