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Webinar: Self-Employed Borrower Tax Implications for Qualified Mortgages Under the New CFPB Income Verification Rules



Tuesday, July 15, 2014

2:00 - 3:30 pm CST


Speaker: Tim Harrington, TEAM Resources


About the Program

Under the CFPB, verifying self-employed borrowers’ income has taken a new direction!


The new qualified mortgage rules issued by the CFPB are in effect. With them, verifying self-employed borrowers’ income from tax returns has taken a new direction. Much of the “common sense” approach of the old rules has been set aside and new “standardized” verification rules have taken their place. To keep your mortgage “qualified” and ensure your credit union is protected under the QM rules, it is very important that you know and comply with these new income verification rules.


Using borrowers’ tax returns, this webinar will show which incomes can and can’t be used. This simple and interesting approach will help you understand the QM selfemployed income verification rules. You will also receive a useful, interactive worksheet to calculate annual and monthly income from the self-employed borrowers’ tax returns.


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