Covers all income types and best practices for calculating and verifying borrower income accurately.
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
COVID 19 continues to create challenges with determining income for borrowers with more complex pay types such as self employment. The most common questions for a self employed borrower is
Most of us have yearly traditions, for example I completed my second year of spending New Years Eve in Florida versus good old snowy Michigan! Although this is a new
When I read LinkedIn from time to time, I have seen some funny memes on why people’s loans have died during the underwriting process. You know the culprits such as
In my last blog, I set the stage on practical applications for the new RU/RSU income. I also went over some of the guidelines which outline when and how the
I was at a compliance conference a few weeks back in Pontiac, Michigan, it was a great event put on by FIC Conferences. I had a question come up about
Let’s imagine you got lucky while you were on your vacation to Australia and won $10,000 at the Crown Melbourne Casino and want to use that income to help pay
