Training
Analyzing Self-Employed Borrowers 101 – Getting Started & the Sole Proprietor
75 minutes
In this introductory session, we’ll cover the foundational concepts you will need in your analysis of your borrower’s qualifying income, with a focus on the sole proprietor. We’ll review what criteria must be met in order to use self-employed income and what documentation is required.
During this 75-minute webinar, we’ll:
- Learn 3 key concepts that you will use during the cash flowing process
- Calculate qualifying income for a sole proprietor from Schedule C
- Discover when business mileage depreciation can be added back
- Review how to conduct analysis of earning trends
- Identify the steps to take if the business is showing declining income trends
Sandra Sweeney
Sandra Sweeney, senior customer trainer and training program developer for MGIC, has a mortgage industry career that spans over four 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.