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Evaluating & Calculating Borrower Income – Focus on Fixed & Variable Sources

To make an informed decision, it’s critical to thoroughly evaluate and calculate borrower income. Will the borrowers be able to make their new mortgage payment AND meet all their other monthly obligations? Select from the sessions below to create a comprehensive workshop that works best for your team.

Who should attend:

Processors, underwriters, loan originators

Session 1: Evaluating & 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.

Learning objectives:

  • Document various income types
  • Calculate various types of qualifying income
  • Analyze your results for stability

Approx. length:

Classroom – 75 minutes
Virtual – 75 minutes

Session 2: Evaluating & Calculating Borrower Income – Focus on Variable Sources

Evaluating variable income can be challenging due to its fluctuating nature. Plus, you have to understand all the Agency guidelines for analyzing variable income. Learn how to analyze income trends along with other factors so you can make the best underwriting decisions when calculating variable income.

Learning objectives:

During this webinar, we will examine specific case studies involving:

  • Commission
  • Overtime
  • Bonuses
  • Shift differentials

Approx. length:

Classroom – 75 minutes
Virtual – 75 minutes

Note: These classes do not include information on evaluating self-employed borrowers (SEBs). MGIC offers specific SEB classes for analyzing returns for corporations, sole proprietors, partnerships, S corporations and rental income.

Interested in this training opportunity?

Get in touch with your MGIC representative or complete our specialized training kickstarter form to get the ball rolling.

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