Webinars - Live

Qualifying Borrowers Using Personal Tax Returns Part 1: Form 1040 & Schedules B & C

02/19/2020 | 3:00 pm - 4:30 pm ET
Level: N/A
Category:
Webinars - Live
Cost: $200.00
Contact: Susan Erlandson at serlandson@mainecul.org

What’s your decision-making process for qualifying a borrower for a loan? Do you understand how to convert taxable income (which is practically useless) into cash flow? The key is learning how to obtain a reliable monthly or annual cash flow from a personal tax return. Incorrectly estimating cash flow from a tax return can result in bad loan decisions – or missed opportunities. Once you’ve properly converted taxable income into cash flow, that information can be used in your credit scoring model, debt-to-income ratio, or disposable income calculation.

Designed for consumer and commercial lenders, this two-part series will teach you an easy, reliable method to convert a borrower’s personal tax return (Form 1040) into annual and monthly cash flow statements using the free software included with this course. Part 1 will cover Form 1040, Schedule B (Interest and Dividend Incomes) and Schedule C (Sole Proprietorship Incomes). (Note: This method does not follow Fannie, Freddie, or QM rules used in mortgage lending.)

For more information or to register CLICK HERE