Training
Analyzing Self-Employed Borrowers 401 – Overcoming Tough Challenges
60 minutes
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
Sandra Sweeney
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.