Training
Analyzing Self-Employed Borrowers 101 – Getting Started & the Sole Proprietor
75 minutes
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.
During this 75-minute webinar, 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
Sandra Sweeney
Sandra is a mortgage industry veteran with over 35 years of experience. Her varied roles in operations, loan origination, underwriting and management give her a deep understanding and appreciation for many roles present in the industry. Sandra rejoined MGIC in 2013 as an underwriter and recently transitioned to a full-time customer trainer and training program developer. She currently facilitates many of the MGIC national webinar courses. Sandra and her family reside by the water on Smith Mountain Lake, Virginia. In her free time, she enjoys boating, swimming and hiking.