Evaluating and Calculating Borrower Income – Focus on Fixed Sources
When making an informed underwriting decision, it’s critical to thoroughly evaluate and calculate the borrower’s income. You need to evaluate whether the borrower will be able to make their new mortgage payment AND meet all their other monthly obligations.
During this foundational webinar, we’ll focus on evaluating fixed income sources. You’ll learn how to:
- Document various income types
- Calculate various types of qualifying income
- Analyze your results for stability
Note: This class does not include evaluating self-employed borrowers (SEB). MGIC offers specific SEB classes for analyzing returns for corporations, sole proprietors, partnerships, S corporations and rental income.