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Event Date Thu Mar 19 EDT (almost 2 years ago)
Region All
Details

What’s your decision-making process for qualifying a self-employed borrower for a loan? Do you understand how to convert tax income (which is practically useless) into cash flow? The key is learning how to obtain a reliable monthly or annual cash flow from a personal tax return. Incorrectly estimating cash flow from a tax return can result in bad loan decisions – or missed opportunities. Once you’ve properly converted taxable income into cash flow, that information can be used in your credit scoring model, debt-to-income ratio, or disposable income calculation.

Designed for consumer and commercial lenders, this two-part series will teach you an easy, reliable method to convert a borrower’s personal tax return (Form 1040) into annual and monthly cash flow statements using the free software included with this course. Part 2 will cover Schedule D (Capital Gains, Installment Sales, and other sales), Schedule E, Page 2 (Rental and Royalty income), Schedule E, Page 2 (Partnership and S Corporation income), and Schedule F (Farm income). (Note: This method does not follow Fannie, Freddie, or QM rules used in mortgage lending.)

Attendance certificate provided to self-report CE credits.

Who should attend?
This informative session is designed for lending personnel, including chief lending officers, service representatives, new accounts personnel, loan officers, loan underwriters, loan sales staff, credit analysts, loan processors, branch managers, CEOs, and other key lending staff.

Speakers

2020 Presenter

Tim Harrington
President, Team Resources