Online Courses – Instructor-Led
Analysis of Self-Employed Borrowers
Class meets August 3, 4, 5 and 6, 2010
(4-Day format)
Course code: IW-10-009-004
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During the recent housing boom, the industry created products that required little or no documentation. On the surface, these products made sense for the self-employed borrower that could not produce extensive amounts of documentation to meet every line item requirement to get a loan. The borrower simply needed to provide enough information to satisfy the lender. Today, we know that some of the reasoning behind no documentation loans was flawed — in part because the product made it easier for people to misrepresent themselves.
The mortgage industry is returning to the origination of full documentation loans, assuming that doing so eliminates or greatly reduces the chance of fraud. However, the desire of consumers to misrepresent themselves to qualify for a larger home loan has not diminished. Accuracy and consistency are critical components of qualifying income, and it has never been more important to perform in-depth analysis of all categories of self employment, including Sole Proprietors, Partnerships, Corporations and S Corporations. That’s why AllRegs Academy is pleased to offer Analysis of Self-Employed Borrowers.
Course Benefits | Course Goals | Who Should Attend | Course Delivery
Class Schedule | Certification Credit | Instructors | Tuition & Registration
Course Benefits:
Upon returning to work, students will be able to:
- Identify documents required to determine income for Self-Employed borrowers
- Recognize potential red flags when reviewing tax returns
- Calculate income for a variety of Self-Employed borrower scenarios
- Recognize key factors to consider when calculating Self-Employed borrower income
Click here to read the Full Agenda »
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Learning Goals and Objectives:
Upon returning to work, students will be able to:
- Define a Self-Employed Borrower(s)
- Identify the three main factors in analyzing Self-Employed Borrowers
- Identify and explain various types of business structures
- Analyze borrower income and determine required tax forms and/or schedules
- Evaluate Profit & Loss Statements
- Execute the FNMA Cash Flow Analysis (Form 1084) when calculating income
- Review a Balance Sheet and identify key components
- Evaluate the 1040 Individual Tax Form and identify required schedules when determining income
- Identify critical information found on the 1065 Partnership Tax Form and when it is required
- Evaluate the 1120/1120S Corporate Tax Forms
- Evaluate Tax Schedules A-F
- Identify Tax Return Red Flags
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Who Should Attend
- Processors
- Underwriters
- Originators
- QC Auditors
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Course Delivery
The training sessions utilize WebEx technology in conjunction with audio conferencing. Polling capabilities, live chat, and question & answer sessions allow participants to easily interact with subject matter experts. The course consists of four 90-minute sessions, either over a 4-week period or over 4 consecutive days. Pre-reading and exercises are included and accessed through the AllRegs Academy learning management system. Participants are required to complete assignments prior to each session.
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Class Schedule
- Tuesday, August 3, 2:00 p.m. – 3:30 p.m. EST (First day)
- Wednesday, August 4, 2:00 p.m. – 3:30 p.m. EST
- Thursday, August 5, 2:00 p.m. – 3:30 p.m. EST
- Friday, August 6, 2:00 p.m. – 3:30 p.m. EST (Last day)
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Certification Credit
Upon successful completion of this course, you will earn 6 hours of credit towards the Residential Government Underwriter (RGU) certification.
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Course Instructors
AllRegs Academy’s FHA instructors, seasoned professionals with active mortgage industry experience, rotate instruction throughout the calendar year.
Featuring:
Click their names to read their bios and learn more about who teaches our courses.
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Tuition & Registration
The course is $350 per person. Tuition includes all course materials. Upon successfully completing the course, students will earn an industry-recognized certificate of completion.
Still have questions? Interested in multiple registrations?
Call (800) 848-4904.
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Class meets August 3, 4, 5 and 6, 2010
(4-Day format)
Course code: IW-10-009-004
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For discounts related to coupon or discount codes, quantity discounts or catalog pricing, please follow the instructions on the discount communication or call AllRegs Customer Service at (800) 848-4904.
Last Updated: 5/14/2010