Let's face it - it's a Full Doc World. Tax returns are now a mandatory part of your loan file. The 4506T is generating more (not less) questions from underwriters. You can no longer afford to let loans slip thru your fingers - or get rejected - because you're not able to sufficiently explain your clients' tax returns.
Learn how to read income tax returns and how to work with underwriters to get more of your loans approved - and closed. Here's what you will learn:
What triggers require you to ask for full copies of tax returns.
How to find more income within your clients' tax returns.
Which tax returns you should "read" first and which ones you don't need to waste your time on.
How to explain your income analysis to an underwriter.
Line item explanations of 1040s, 1040A, Corporate Tax Returns, Sub-Chapter S Corporations, Partnership Returns and All Schedules, depreciation and much more.
Irene Duford, FirstCal, Kingman, AZ shares her 6-page checklist where she says it helps her close at least half of her loans in 25 days or less. Download her checklist and modify for your own use.
These articles have also been added to ConstantConnecting.com. Easily email to real estate agents every few weeks with tips on how to increase their business and save money.
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