Covers all income types and best practices for calculating and verifying borrower income accurately.
New Year’s is an interesting holiday to me. It is the only holiday that seems to prompt the most change in people’s lives. When you think about it, does anyone
ACES reports income errors lead loan defect reasons 11th straight quarter When I write a blog headline, I try to balance the blog name between informative and relevant to give
Can you use K1 income with less than 25% ownership? K-1 income(loss) is generated from standard business structures defined by the IRS which are Partnerships using the IRS 1065 tax
One of the lessons I learned during my underwriting career is that the most likely reason a borrower defaults is due to their DTI ratio (Debt To Income), or stated
Freddie Mac Bulletin 2022-18 offers new method of income calculations for 1099 borrowers. The United States is looking at earning income much differently than it did just a decade ago.
FHA has recently amended their guidelines to allow more flexibility to calculate income for borrowers whose variable income was affected by the COVID 19 pandemic as announced in mortgagee letter
When completing income analysis for self employed borrowers there are a few key steps that must be followed. A liquidity test must be performed before your borrower can use self
Calculating K-1 income for self employed K-1 income for self-employed borrowers is one of the most common questions we receive. We understand—it’s complicated. As mortgage professionals, we aren’t tax experts,
When January rolls around we often see encouraging messages, stories, tweets, or other social media posts encouraging us as we cross into the new year. A common word I hear
Working in the mortgage business means you get a little more involved in your clients life then the typical financial transaction. Speaking for myself, that is an enjoyable part of
