Dear New Loan Officers and Loan Processors,
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.
In this training, 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
Access the FULL course here 📚 5. Analyzing Self-Employed Borrowers 101 – Getting Started & the Sole Proprietor
This training is provided by MGIC.
--
After completing the course, please take a moment to leave feedback. Your suggestions will be passed on to our team to see if they could implement any of these changes in the upcoming releases.
If you have any questions, please do not hesitate to contact us at academy@loanfactory.com.
Best regards,
Training Academy Team