Essentials Live

ESSENTIALS LIVE!

GET ANSWERS TO THE MOST COMMON CHALLENGES.

INCOME, ASSET, APPRAISAL CHALLENGES AND MORE...

Join us every 2nd and 4th Monday of the month for a LIVE broadcast with two of our senior operations trainers.

They’ll show you how to properly apply Fannie Mae and Freddie Mac guidelines when qualifying a borrower.

Each 30-minute session will focus on a different loan scenario, including real-life loan challenges we receive from you. Can’t attend one of our LIVE sessions? No problem. We record them, so you can get answers you need when it works for you.

Upcoming Training Sessions

Year End Review Game!

Essentials Live!

December 11, 2023, 2:00 pm EST - December 11, 2023, 2:30 pm EST

Join us for a fun end-of-year review game designed to help test your knowledge of Fannie/Freddie guidelines.

Essentials Live! Recorded Sessions: Q4 2023

Haunted by Mileage Depreciation?

Session #66: October 23, 2023
Let’s talk calculating mileage depreciation with Schedule C or Form 4562.

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Shared Equity Program and Long-term Affordability

Session #67: November 13, 2023
Join us as we discuss shared equity programs, concentrating on income and resale price restrictions.

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Non-U.S. Citizen Borrowers

Session #68: November 27, 2023
Learn what types of documentation are acceptable in determining eligibility for non-US citizen borrowers.

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Essentials Live! Recorded Sessions: Q3 2023

Using Business Assets as Down Payment?

Session #59: July 10, 2023
Determine if the use of business assets will meet GSE requirements and how the business will be affected.

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What MI Can Do for Your Borrower!

Session #60: July 24, 2023
How do you decide between 5, 10, 15 or 20% down? We'll discuss scenarios to determine what is best for your borrower to leave room for upgrades or investments.

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Qualifying a Traveling Nurse

Session #61: August 14, 2023
Walk through calculations to determine what income can be used to qualify a traveling health care professional.

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Get Qualified With a Positive Rental Payment History

Session #62: August 28, 2023
Learn how positive rent history with an AUS loan could impact the loan decision.

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Less Than 25% Business Ownership?

Session #63: September 11, 2023
Learn to qualify a borrower, with under 25% business ownership, for a mortgage.

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Automated Underwriting, One & Done?

Session #64: September 25, 2023
When do you resubmit a loan to AUS? We’ll discuss AUS data, tolerances and errors in credit data.

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Essentials Live! Recorded Sessions: Q2 2023

Tax Return Deadlines, Amendments & More!

Session #53: April 10, 2023
Tax filing season is here! Let's review GSE guidelines regarding tax return due dates, extensions and amendments.

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IPC Home Runs

Session #54: April 24, 2023
Learn how Interested Party Contributions (IPCs) can help with closing costs and be a home run for your borrower!

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No Longer the Boss...?

Session #55: May 8, 2023
Have a borrower who recently transitioned from being self-employed to a W-2 full-time employee? Let’s discuss what you need to know to confidently document and calculate income.

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Timely Appraisal Adjustments

Session #56: May 22, 2023
Join us to discuss positive and negative appraisal time adjustments and learn how this affects the underwriting review and supports the property value.

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Non-Traditional Credit: An Unsung Hero

Session #57: June 12, 2023
Join us to learn how using non-traditional credit can qualify your borrower!

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Justifying Credit Reputation

Session #58: June 26, 2023
Has your borrower had an isolated event beyond their control? Learn how to document and explain their extenuating circumstances.

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Essentials Live! Recorded Sessions: Q1 2023

What To Do With a W-2

Session #47: January 9, 2023
Become an MVP! We'll show you what boxes to review and why for wages, housing, tip income and more.

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How To Establish Liquidity When the Schedule L Is Blank

Session #48: January 23, 2023
Discover the different types of documentation that can be used to determine liquidity.

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Using Employment Offers As Proof of Income

Session #49: February 13, 2023
The loan closes prior to my borrower's start date. I don’t have a paystub. Can I use the income from their new employer?

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The ABCs of RSUs

Session #50: February 27, 2023
Learn the ins and outs of Restricted Stock Units (RSUs) and when they can be used as qualifying income.

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Family Business

Session #51: March 13, 2023
Join us and learn what you need to know when a borrower works in a family business and what's required for this non-arm's length transaction.

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Re-entering the Workforce

Session #52: March 27, 2023
Has your borrower re-entered the workforce after an extended break in their career? Let us help you answer your employment gap questions for mortgage eligibility.

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Essentials Live! Recorded Sessions: Q4 2022

Rates Are Up – Time To Buydown?

Session #42: October 10, 2022
Join us as we demonstrate types, break-even points and more. It's as easy as 3,2,1!

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The Maze of 8825 Rentals

Session #43: October 24, 2022
When can I offset the mortgage? Can I add back depreciation? How do I cash flow a property? Get answers to these questions and more!

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'Tis the Season To Be Thankful for Non-Taxable Income

Session #44: November 14, 2022
Join us to learn how and when you can gross-up income for your borrowers and maximize their purchasing power.

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Income Analysis Challenges in a Multi-Earner Era

Session #45: November 28, 2022
The 'gig economy' has evolved and so have the variable income challenges. Join us as we dive into some unique scenarios to determine what you can and can't use and why.

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Year End Review Game

Session #46: December 12, 2022
Join us for a fun end-of-year review game designed to help test your knowledge of Fannie/Freddie guidelines.

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Essentials Live! Recorded Sessions: Q3 2022

Garbage In...Garbage Out: Why Data Integrity Matters

Session #36: July 11, 2022
Join us as we discuss why data integrity is so important to get the right documentation requirements on your AUS report.

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From Unpredictable to Predictable: Salary Leads to Stability

Session #37: July 25, 2022
A borrower working a salaried position is considered to have stable income that is likely to continue. There are a few things to consider after finishing their monthly income calculation.

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Using Bonus or Commission Income To Qualify Your Borrower

Session #38: August 8, 2022
Join us as we examine bonus and commission income scenarios, including bonus income for a borrower who recently received a promotion, and commission income when a borrower has less than 2-years of earnings.

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Rental Income Analysis Unpacked

Session #39: August 22, 2022
Offset payment or use rental income? Lease or no lease? What else do I need? Does it matter if the property was placed in service as a rental in the current calendar year?

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ARM Refresher

Session #40: September 12, 2022
Indexes, margins, caps and more...3/6, 5/6, 7/6 to explore. Join us for a lively discussion on ARM components, how to accurately qualify your borrower and when it is the right "fit" for your scenario.

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What's New With ADU...

Session #41: September 26, 2022
Let's talk about when you can and cannot use rental income from an accessory dwelling unit on a 1-unit primary residence. We'll cover guidelines so you know what you need to do to qualify your borrower.

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Essentials Live! Recorded Sessions: Q2 2022

Growing Your Income - When to Use Rental Income to Qualify

Session #30: April 11, 2022
Borrower lives rent free with his parents and is applying for a mortgage to purchase a second home. Already owning an investment property, he wants to use rental income to help qualify. What do we tell him?

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It’s Spring Time, a New Business Has Sprouted!

Session #31: April 25, 2022
My borrower has had a Schedule C business for years and started a second business last spring. Can I use the new business income to qualify my self-employed borrower?

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The Joys of Motherhood and Qualifying Income.

Session #32: May 9, 2022
Discover how to properly calculate the monthly qualifying income of a borrower who recently took unpaid family medical leave from work.

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When YTD P&L Statements Come to the Rescue

Session #33: May 23, 2022
There are times when obtaining a YTD P&L statement from your self-employed borrower's business will save your deal. In this session, learn how to use Fannie and Freddie guidelines to your borrowers’ advantage.

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Analyzing A Truck Driver's Income

Session #34: June 13, 2022
Truck drivers can have multiple sources of income including per diem, drop, detention, rate per mile and/or loading pay. We will demonstrate how to apply Agency guidelines in analyzing a trucker’s income.

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The 5Ws of Qualifying Conversion Rental Income

Session #35: June 27, 2022
A borrower is purchasing a new primary residence, retaining current residence and converting it to a rental property. Can we use this rental income to help qualify the borrower? The answer depends!

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Essentials Live! Recorded Sessions: Q1 2022

Hourly, Overtime, Seasonal = Variable Income

Session #24: January 10, 2022
Have you ever wondered when can you use unemployment income to qualify your borrower?

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Tax returns getting you down? Learn to recognize the 'story' your SEB's income reveals.

Session #25: January 24, 2022
Every business owner has been impacted by the pandemic. Join us to learn how to recognize the ‘story’ of their income so you can feel confident in your decision.

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Tough LOVE in February

Session #26: February 14, 2022
What documentation is required for your self-employed borrower in the 1st quarter of 2022? Join us to review various date-driven scenarios.

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Love & Money... What to do when one makes it and the other spends it.

Session #27: February 28, 2022
One borrower is a self-employed physician and the other is a self-employed day-trader. Join us as we analyze this couple’s income, demonstrating Schedule C income analysis and capital gains/loss analysis.

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Learn how a leprechaun grants these 3 wishes for a self-employed borrower.

Session #28: March 14, 2022
Join us to see how 3 wishes are granted...

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What two things do leprechauns have in common with farmers?

Session #29: March 28, 2022
They each typically live at the end of a rainbow and they are both considered to be self-employed by Fannie and Freddie.

We hope you'll join us to learn how to evaluate a farmer’s tax return.

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Essentials Live! Recorded Sessions: Q4 2021

What is a recourse loan and how does it impact how we analyze borrowers with a Partnership or LLC?

Session #19: October 4, 2021
Learn the difference between recourse and non-recourse loans and how those debts are allocated based on the structure of the business.

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Borrower works fluctuating hours & has job gaps. Can we use this income to qualify them?

Session #20: October 25, 2021
The borrower's hours fluctuate weekly and there are two big job gaps within the past three years. In this session, we will use Agency guidelines...

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Up, down, up. How do I qualify my self-employed borrower's fluctuating income?

Session #21: November 8, 2021
Join us as we tackle the dilemma of calculating a self-employed borrower’s fluctuating income, plus analyzing a borrower’s income while applying FNMA/FHLMC guidelines.

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How do I analyze multiple K-1’s when the borrower owns less than 25%?

Session #22: November 22, 2021
In this session, we’ll answer your questions about less than typical business owners, including when you need tax returns and what to do when multiple K-1’s show a possible business loss.

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Essentials Live! Year End Review Game

Session #23: December 6, 2021
Join us for a FUN end-of-year review game designed to help test your knowledge of Fannie/Freddie guidelines.

Watch Recording

Essentials Live! Recorded Sessions: Q3 2021

Shift Differential. What is it? Can I use it as income to qualify the borrower?

Session #13: July 12, 2021

Participants will learn how Shift Differential is earned and how to apply Fannie Mae and Freddie Mac guidelines.

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Deferred Compensation, can I use it as income?

Session #14: July 26, 2021

Participants will learn what FNMA and FHLMC guidelines state, and how to apply a particular scenario.

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Do I have to complete a cash flow analysis if my borrower receives W-2 income from their corporation?

Session #15: August 9, 2021

We will review FNMA and FHLMC guidelines for Borrowers who own a Corporation and determine how to properly qualify your Borrower.

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The “Case” for Differentials Income

Session #16: August 23, 2021

Using a recent case where a nurse is receiving differential pay, we will walk through the calculations to determine what can be used to qualify the borrower and why.

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Can I offset a loss reported on my B’s K-1 if the business is not liquid?

Session #17: September 13, 2021

Following guidance from GSEs, we will demonstrate how to review the K-1 and the 1120-S to properly qualify your borrower.

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Full-Time Hourly = Salaried Income

Session #18: September 27, 2021

Learn how to avoid the common pitfalls of income calculation. We will show you how to accurately identify when you can use agency guidelines for salaried borrowers to qualify your borrowers who ...

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Essentials Live! Recorded Sessions: Q2 2021

1065 is BLANK, where's the income?

Session #7: April 12, 2021

Learn what to look for when the first page of the 1065 is blank, and see where income may be reported.

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Clergy filing Sch. C and has housing allowance too. What's his qualifying income?

Session #8: April 26, 2021

Learn how to document and determine qualifying income for your borrowers who are Clergy members.

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Two borrowers share equal portions of ownership, in three businesses. How do I document and calculate their income?

Session #10: May 24, 2021

Learn how to properly document self-employed borrowers who own multiple businesses.

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Stable or increasing income vs. declining income. How do I know which way my self-employed borrower’s business is trending?

Session #12: June 28, 2021

We will demonstrate how the 1088 form will identify income and expense trends and determine viability of the business.

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Essentials Live! Recorded Sessions: Q1 2021

Borrower in entertainment business, receiving variable income, and has experienced layoff and COVID furlough.

Session #6: March 22, 2021

Learn how to determine what income you can use to qualify your borrower based on Fannie Mae and Freddie Mac guidelines.

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