Evaluating and Calculating Borrower Income – Focus on Fixed Sources
When making an informed underwriting decision, it’s critical to thoroughly evaluate and calculate the borrower’s income. You need to evaluate whether the borrower will be able to make their new mortgage payment AND meet all their other monthly obligations.
During this foundational webinar, we’ll focus on evaluating fixed income sources. You’ll learn how to:
- Document various income types
- Calculate various types of qualifying income
- Analyze your results for stability
Note: This class does not include evaluating self-employed borrowers (SEB). MGIC offers specific SEB classes for analyzing returns for corporations, sole proprietors, partnerships, S corporations and rental income.
With over 35 years of experience, Sandra Sweeney is a mortgage industry veteran. She has a deep understanding of and appreciation for the various roles in the industry after having worked in operations, loan origination, underwriting, and management.
Now a senior customer trainer and program designer, she facilitates many of MGIC's national webinar courses. Sandra’s live and on-demand webinars focus on critical industry subjects such as the fundamentals of the mortgage process, how MI works, topics involving self-employed borrowers, how to review an appraisal, and more.
You can see Sandra in action throughout MGIC’s on-demand video series called Magic Minutes. These 15-minute tutorials help mortgage industry pros expand their knowledge on important topics like evaluating and calculating borrowers’ income.