RC_LP_U_306.3 Evaluating Partnerships

1-5 Advanced Education Loan Production (Origination, Underwriting, Processing) Residential Self-Study Web-Based Courses
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Member $50.00
Non-Member $100.00

The Evaluating Partnerships course discusses how to evaluate income from partnerships reported on business tax returns, including Schedule E (Form 1040), Form 1065, and Schedule K-1 (Form 1065). To determine allowable qualifying income, the underwriter must analyze income and expenses reported on these forms and schedules, validate consistency across the tax returns, and make adjustments using the appropriate investor's income analysis form.

This course begins with a review of characteristics of partnerships. Next it looks at partnership documentation requirements for Fannie Mae and Freddie Mac. Finally, it provides detailed instruction on how to analyze income from Form 1065 and Schedule K-1 (Form 1065) using the Fannie Mae Cash Flow Analysis (Form 1084).

This is a single-family/residential course.

  • Partnership Characteristics
  • Determine Allowable Income Using Schedule K-1
  • Determine Allowable Income Using Form 1065
  • Practice Questions


    Seat time approximately 1.5 hours.

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