Underwriting the Self-Employed Borrower
Description
This course teaches the skills to help evaluate the stability of the self-employed borrower and accurately determine income. Provides an in-depth analysis of all categories of self-employment, including Sole Proprietors, Corporations, S Corporations and Partnerships. Includes a case study of a Sole Proprietor.
- Please contact your local PMI representative to register
Agenda
- What is underwriting the self-employed borrower?
- Types of business structures
- Tax forms required for each business structure
- Review of Form 1040 and related schedules
- Case study of a Sole Proprietor using PMI’s cash flow quick method
- Review of Fannie Mae’s Income Analysis Form 1084
- Review of tax forms for Partnerships, S Corporations and Corporations
- Review of possible red flags on Form 1040 and schedules
- Effect of DU and LP on the Self-Employed Borrower
Length
- This course is 3 hours in length
Recommended Attendees
- This course is most valuable for underwriters, loan processors and loan officers
Scheduling Process
- Please contact your local PMI representative to register
Materials
Questions?
- Contact Tina Callisto at 925.658.6836
Mortgage insurance discussed in this website is underwritten by PMI Mortgage Insurance Co. in all states except New York and by PMI Insurance Co. in New York.
