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Self-Employed Borrower Training

May 1, 2024 10:00 am - 3:30 pm
IBMC Headquarters
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IBMC is pleased to partner with Jeff Platfoot, Director of Regional Training at Mortgage Guaranty Insurance Corporation (MGIC) to teach you the fundamentals of utilizing tax returns to document your borrower’s income.

Join us as Jeff walks us through a self-employed borrower’s tax return step-by-step focusing on the following topics:

  1. Cash flow tools and concepts of a tax return
  2. Identifying self-employed borrower income on personal returns
  3. Schedule B – Interest & Dividends
  4. Schedule C – Sole Proprietorship with dive into detecting automobile depreciation
  5. Farming Income presentation (covers schedule F & multiple owners filing partnership returns)
  6. Cash flow tools and concepts (refresher)
  7. Schedule 1 & Schedule E page 2 – documenting SEB business, locating K-1s
  8. Partnerships & S-Corporations – documentation and passthrough path
  9. K-1 conversation – reviewing K1’s and cash distributions
  10. S-corporation pass through case study, including liquidity
  11. Partnership case study – partnership owning rental property
  12. Farming Income presentation (covers schedule F & multiple owners filing partnership returns)

Who Should Attend: Loan Officers, Processors and Underwriters