Essentials Live

ESSENTIALS LIVE!

ANSWERS TO YOUR MOST COMMON CHALLENGES.

INCOME & SELF-EMPLOYED BORROWERS.

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

They’ll help you tackle the most common income analysis challenges and show you how to properly apply Fannie Mae and Freddie Mac guidelines when calculating income.

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

Upcoming Training Sessions

Full-Time Hourly = Salaried Income

Essentials Live!

September 27, 2021, 2:00 pm EDT - September 27, 2021, 2:30 pm EDT

Learn how to avoid the common pitfalls of income calculation. In 30 minutes or less, we will show you how to accurately identify when you can use agency guidelines for salaried borrowers to qualify your borrowers who receive an hourly rate of pay.

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

Essentials Live!

October 4, 2021, 2:00 pm EDT - October 4, 2021, 2:30 pm EDT

Learn the difference between recourse and non-recourse loans and how are those debts allocated based on the structure of the business. Understand how to use this information to analyze the level of the borrower's financial risk.

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

Essentials Live!

October 25, 2021, 2:00 pm EDT - October 25, 2021, 2:30 pm EDT

The borrower's occupation is Journeyman type, construction work. Their hours fluctuate weekly and there are two big job gaps within the past three years. In this session, we will use Agency guidelines to answer whether this income can be used to qualify for a mortgage.

Essentials Live! - 11/8/21

Essentials Live!

November 8, 2021, 2:00 pm EST - November 8, 2021, 2:30 pm EST

Essentials Live! - 11/22/21

Essentials Live!

November 22, 2021, 2:00 pm EST - November 22, 2021, 2:30 pm EST

Essentials Live! - 12/6/21

Essentials Live!

December 6, 2021, 2:00 pm EST - December 6, 2021, 2:30 pm EST

Essentials Live! - 12/20/21

Essentials Live!

December 20, 2021, 2:00 pm EST - December 20, 2021, 2:30 pm EST

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.

Watch Recording

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.

Watch Recording

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.

Watch Recording

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.

Watch Recording

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.

Watch Recording

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.

Watch Recording

My borrower has a business with rental property, yet the mortgage is in my borrower's name. Can I offset the payment?

Session #9: May 10, 2021

Following guidance from the GSEs, we will show you the steps to calculate the correct DTI.

Watch Recording

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.

Watch Recording

Borrower is personally obligated on a business-owned rental property. Is it debt or is it income?

Session #11: June 14, 2021

Follow along as we demonstrate how to solve for this using both Fannie and Freddie guidelines. Hint: The final answer will come out differently depending upon which set of guidelines is followed.

Watch Recording

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.

Watch Recording

Essentials Live! Recorded Sessions: Q1 2021

My borrower had their highest income in 2020. Can it be used to qualify?

Session #1: January 11, 2021

Learn how the temporary guidance and overlays related to COVID-19 affect qualifying income when their income trend is increasing.

Watch Recording

How do I analyze my borrower's handwritten P&L?

Session #2: January 25, 2021

Learn how to calculate income for Self-Employed Borrowers who use a handwritten ledger or provide minimal details around their P&L.

Watch Recording

Month-to-month trends analysis, can it resolve discrepancies?

Session #3: February 8, 2021

Learn how to effectively review a month-to-month income analysis, so you can quickly identify trends and resolve any income discrepancies.

Watch Recording

Borrower’s business looks profitable, but is it truly stable income?

Session #4: February 22, 2021

Learn how to determine and support a stable income amount without asking for additional documentation.

Watch Recording

Co-mingled assets/debts, how do I decipher income and expenses for the business?

Session #5: March 8, 2021

Learn how to decipher income and expenses for businesses that co-mingle assets & debts.

Watch Recording

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.

Watch Recording

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