Self Employed Borrower Training

IBMC is pleased to partner with Hali Plachecki, Senior Trainer at Mortgage Guaranty Insurance Corporation (MGIC) to teach you the fundamentals of utilizing tax returns to document your borrower’s income.

Join us as Hali walks us through a self-employed borrower’s tax return step-by-step focusing on the following topics:

1. Cash flow tools and concepts of a tax return
2. Identifying self-employed borrower income on personal returns
3. Schedule B – Interest & Dividends
4. Schedule C – Sole Proprietorship with dive into detecting automobile depreciation
5. Farming Income presentation (covers schedule F & multiple owners filing partnership returns)
6. Cash flow tools and concepts (refresher)
7. Schedule 1 & Schedule E page 2 – documenting SEB business, locating K-1s
8. Partnerships & S-Corporations – documentation and passthrough path
9. K-1 conversation – reviewing K1’s and cash distributions
10. S-corporation pass through case study, including liquidity
11. Partnership case study – partnership owning rental property
12. Farming Income presentation (covers schedule F & multiple owners filing partnership return

To conclude, we will also provide a quick overview of Fannie Mae’s new self-employed borrower calculator.

Who Should Attend: Loan Officers, Processors and Underwriters