Verifying Borrowers' Income Using Tax Returns

 Member Service  Lending/Collections

Registration and Pricing Information

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Registration Investment:
FREE for Power Learner Passport
$200 for Affiliates Non-PLP
Non-Affiliated Contact Leslie Poole

Program Description

With credit unions diversifying their fields of membership, a growing number of members who are seeking loans are self-employed. Loan officers are proficient at qualifying members with pay stubs, but what do they do when a member offers them a tax return to verify income?

This course makes the process of analyzing tax returns remarkably simple by providing careful instruction and frequent examples. Loan officers will quickly learn how to obtain a monthly net or gross income from a tax return. Analysis forms and instructions are supplied to each participant.

With this information, you will have the knowledge and tools you need to make solid loan decisions on self-employed borrowers as you learn:

  • To determine a borrower’s true cash income from a personal tax return
  • How to identify hidden income that may qualify a borrower
  • How to identify hidden expenses that may disqualify a borrower
  • How to deal with a borrower who says “I really earn a lot more than this, but this is all I report to the IRS”
  • How to determine the real impact of rental income

Program Length:

Who Should Attend

  • Loan Managers
  • Loan Officers
  • Loan Processors
  • Collections

Meet The Presenter:

Tim Harrington is a CPA, who has provided training for hundreds of credit unions and tens of thousands of their staff and volunteers nationwide. He has spoken for all the national credit union organizations and NCUA, as well as for credit union leagues in forty-eight states. In addition, Tim is on the faculty of the CUNA CU Finance for Volunteers School, CUNA Management School and the CUNA Volunteer Certification School.

Since 1996, Tim has been President of T.E.A.M. Resources, providing consulting, strategic planning, and training to large and small credit unions from coast-to-coast. Tim was formerly the Chairman of the Board of a $150 million credit union in Tucson, Arizona, and, prior to that, a Partner with the nation's 3rd largest auditor of credit unions.

TEAM Resources Consultant and Publisher Kevin Smith has worked with Directors, CEOs, Executive Management, and Staff of credit unions since 2004. Before joining TEAM Resources in 2015, Kevin spent 10 years at the Credit Union National Association (CUNA) in the Center for Professional Development as Director of Volunteer Education. In that role Kevin developed, oversaw and presented programs for credit union executives, directors, and volunteers nationwide.

Kevin is a dynamic and thoughtful presenter. His engaging style keeps audiences interested and informed. As a member of Generation X, fully entrenched in the digital world and actively involved in managing the social media for TEAM Resources, Mr. Smith brings a valuable perspective to the board room and the executive suite.


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