This session highlights when Business Income can be used as Qualifying Income for a mortgage transaction for both Fannie Mae and Freddie Mac. Learn how Business Income from K-1's (1120S & 1065) flow into a borrower's Personal Tax Returns and how to enter that income into the Schedule Analysis Method (SAM) Form.Learning Objectives: Calculate income for either Fannie Mae or Freddie Mac for partnerships and S Corporations, including K-1 income.
Recommended Prerequisites: SAM Pt 1
Recommended Audience: Mortgage Professional, Loan Officer, Loan Processor, Underwriter
In-Person Training: To arrange in-person training for your group, contact your sales representative. FIND YOUR REP NOW