Webinar: Qualifying Borrowers Using Personal Tax Returns Part 2

Start: 3:00 pm
End: 4:30 pm
Event Days: 02/20/2013 - 02/20/2013

Income From Rentals, Royalties, Partnerships, S Corps & Farms  

Overestimating income from a tax return can lead to approval of a weak loan that could eventually cost your credit union, and underestimating income can lead you to deny good loans. This webinar will teach you how to obtain verifiable income from rental and royalty property, from partnerships and S corporations and from farms. With plenty of real-world examples, this webinar will make the process of analyzing personal income tax returns simple and understandable. You'll also receive a complimentary Lenders Tax Analyzer©, which obtains a borrower's real cash flow from a Form 1040 and links three tax years on one report.

Note: This webinar is the second in a series. If you missed Part 1, you can order an archived recording and handout materials by contacting Member Services at (800) 342-9835, ext. 8546 or eandt@cuany.org

About This Session:

This webinar will cover the following topics:

  • Form 1040 Page 1: Find hidden income and remove taxable income that has no cash flow benefit.
  • Schedule E Page 1: Calculate the real cash flow from a rental property.
  • Schedule E Page 1: Understand the effect of mortgage interest and principal paid on debt ratios, cash flow, debt service and disposable income
  • Schedule E Page 2, Partnerships & S Corporations: Discover where to find the real cash flow.
  • Schedule F, Farm Income: Uncover additional income that might be hidden in farm income.

Who Should Participate:

Anyone in the lending area, including chief lending officers, MSRs, sales staff, brokerage staff, new accounts personnel, loan officers, loan underwriters, credit analysts, loan processors, branch managers and CEOs

About the Presenter:

Tim Harrington, CPA, TEAM Resources

Tim Harrington is a Certified Public Accountant and president of TEAM Resources, a firm that provides consulting, strategic planning and training across the country. Since 1992, he has also taught lending personnel how to obtain monthly income from tax returns.  As a faculty member of two CUNA schools on finance and tax, Harrington has consulted with, and provided training for, hundreds of financial institutions. In addition, he is the author of popular lending software Lenders Tax Analyzer.