RC_LP_U_200.2 Income Review in Residential Underwriting
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011105-WC-WPurchase
PLEASE NOTE: MBA Education will be transitioning to a new learning platform in June 2020. We strongly suggest that you complete your course(s) before Friday, June 19, 2020. Progress in any courses that are not completed as of the transition date will be lost and you will need to start from the beginning of your course(s) in the new platform.
If you think you will be unable to complete your courses before Friday, June 19, we recommend that you delay your registration until the transition is complete.
This is a single-family/residential course.
A borrower's capacity to repay a mortgage loan is primarily measured by the applicant's employment and income. Proper calculation of qualifying income is key to arriving at an accurate set of qualifying ratios. Therefore, it is critical that an underwriter evaluates income and income sources in the appropriate manner, following income guidelines that are acceptable to the final loan investor.
In Income Review in Residential Underwriting, stable, secondary, and seasonal income from employment are discussed, along with variable sources of income derived from overtime, bonus, and commissions. The course also provides a basic overview of the more advanced underwriting income techniques used to analyze self-employment income. Income from sources other than employment, such as child support, alimony, pensions, and interest income, are also examined. Toward the end of the course, techniques for underwriting rental income from the subject property are discussed.
Seat time approximately one (1) hour.