Heads up: This course assumes you are comfortable building income from tax returns. Calculating the qualifying income of a self-employed borrower is often challenging, but throw an extraordinary or unusual event into the mix, and it becomes daunting! Let us help you identify where to start, what additional documentation is needed and how to analyze income trends.

 Topics include:

• Questions to consider regarding environmental or economic events and their impact on your borrower’s business
• When net operating loss carryover can be added back
• What steps to take if your borrower has filed an extension
• What further review is required when your borrower is using business funds for closing and/or omitting debts paid by the business
• Impact of YTD earnings on qualifying income