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RC_LP_U_306.1 Business Structures for Self-Empl. Borrowers
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011094-WC-W
Quantity:
Delivery Options: N/A







Description of Product
Description:

This is a single-family/residential course.

Various sources indicate that the number of self-employed workers is increasing. Understanding the different business classifications and methods used to report income is key to deriving a stable monthly income figure for self-employed customers that pursue a residential mortgage loan.

Qualifying self-employed applicants for a residential mortgage loan is more complex than qualifying their salaried counterparts. In this module, we explore business structures for self-employed borrowers and examine the income tax reporting methods used to derive a monthly qualifying income for these individuals. Please note that this module focuses on requirements for underwriting conventional loans for sale to Fannie Mae and Freddie Mac. Although this provides a good standard for underwriting practices in general, requirements for portfolio loans, government loans, and private investors may differ.

Topics:

  • Determine the Business Structure
  • Documentation Requirements
  • Review and Analyze Income

    Seat time approximately one (1) hour.

    Copyright 2016.

     
  •  
    Product Category:
    Self-Study Web-Based Courses 
     
    Notes:
    This is a self-paced, self-study course. Enroll anytime and take up to 12 months to complete the course. 
     
    Contact Info:

    For registration information, call (800) 793-6222 or email education@mba.org.

     
     
    Contact E-mail:
    education@mba.org 
     
    Product:
    DL2-011094-WC-W 
     
    Title:
    RC_LP_U_306.1 Business Structures for Self-Empl. Borrowers 
     
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