Loan Officer Training: How to Calculate Self Employed Borrower Income (Fannie Mae 1084)

At "The Mortgage Calculator," we believe that loan officers should be equipped with the necessary skills to accurately calculate self-employed borrower income. That's why we have created a comprehensive training program to help loan officers master the Fannie Mae 1084 form.
Our training program will cover everything from understanding the basics of self-employed borrower income calculation to analyzing the business tax returns, including the Schedule C, Schedule E, and K-1 forms. We will share proven strategies for identifying and analyzing various income sources and making appropriate adjustments for expenses and depreciation.
#selfemployedlife #loanofficers #loanofficertraining #loanofficerlife #mortgageloanofficer
The Mortgage Calculator Loan Officer Training Series covers an in depth training for new and experienced MLOs on different loan types. Our program features a live demo to not only structure a loan, but also the specific setup of a loan file in an LOS system such as Encompass.
Loan Officers for Unlimited Free Non-QM Leads & Trainings Join The Mortgage Calculator at themortgagecal...
About The Mortgage Calculator:
The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation!
Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!
Our team of over 350 licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages, P&L Mortgages, Asset Based Mortgage Programs, No Ratio CDFI Loan Programs, DSCR Investor Mortgages, Commercial Mortgages, Fix and Flip Mortgages and thousands more!
Our Mortgage Loan Originators are trained to be loan consultants to guide borrowers throughout the entire loan process. A licensed Loan Officer is only a phone call or zoom meeting away and always available to assist borrowers throughout the loan application process all the way to closing. To apply for a mortgage please visit our Quick Mortgage Quote Page at themortgagecal...
The Mortgage Calculator is a registered DBA of Mortgage Calculator Company LLC. NMLS ID #2377459. Programs and rates are subject to change without notice. Mortgage Calculator Company LLC is licensed in the following states that require specific licensing disclosures: AZ (#1040352), CA CFL (60DBO-171188), GA Georgia Residential Mortgage Licensee (#2377459), IL MB.6761755 Illinois Department of Financial and Professional Regulation, Division of Banking, 100 West Randolph, 9th Floor, Chicago, IL 60601 1-888-473-4858. Not licensed or conducting business in New York.

[@CoachAdamYouhanna]

great video! What program are you using to input that data? And do we have access to them as well?
Thanks

[@themortgagecalculatorco]

Most of the calculators are just spreadsheets! Or PDFs that are programmed. Just google it! Lots of templates out there!

[@harkins618]

Thanks for the great videos! So if a c-corp, less than 100% owner, Fannie allows lender to qualify on w2 income only or is 1120 analysis still required? Any other resources you could recommend for c-corp income analysis?

[@themortgagecalculatorco]

Great question! C Corp is not an S Corp. Many UW get the guideline and types confused! Only an S Corp returns can be requested and used for income analysis. C Corp can only be used if the borrower is 100% owner of all stock shares in existence for the C Corp, which essentially negates the C Corp status anyways. So someone that owns 100% of a C Corp likely would elect to change to S Corp status anyways, so that really never happens. Imagine having to provide the tax returns of Apple Inc. just for your personal loan! That is what the UW is saying if the borrower does not own 100%, it is the same as owning a share of Apple Inc, an UW cannot request the tax returns for Apple Inc. just because a borrower owns one stock share, or 20% stock shares, or 50% stock shares, or any other amount besides 100%!

[@danrickis]

Hey

[@themortgagecalculatorco]

Thanks for tuning in!