CU Members Mortgage, a leading mortgage aggregator in the credit union market, will host a Mortgage Essentials training series focusing on “A Complete Guide to Income and Self-Employment Tax Returns.” The series’ four training sessions, presented by CU Members Mortgage and Arch MI, will take place at four credit unions throughout the year, featuring expert speakers on income and self-employment tax returns.
Speakers include:
- Stephanie Clark, Senior National Trainer & Instructional Designer, Arch MI
- Carrie Fenwick, Executive Sales Consultant, CU Members Mortgage
- Daniel Berrier, Executive Sales Consultant, CU Members Mortgage
- Nate Halverson, Account Manager, ARCH MI Credit Union
Locations and dates of each session:
- March 21, 2019, 9:00 a.m. - 4:00 p.m., Western Vista Federal Credit Union
- April 25, 2019, 9:00 a.m. - 4:00 p.m., Granite Federal Credit Union
- May 15, 2019, 9:00 a.m. - 4:00 p.m., Kirtland Federal Credit Union
- May 16, 2019, 9:00 a.m. - 4:00 p.m., Desert Financial Credit Union
The morning session for each event covers income, which prepares credit unions to qualify more members by accurately understanding and applying income including commission, overtime, bonuses, non-W2, social security and other income sources. What can be used, how it is calculated, and other factors such as “grossing up.”
“Given the recent home price appreciation and a rising interest rate environment,” says Fenwick, “the ability to accurately and correctly utilize all sources of income will be key in helping members realize their dream of homeownership.”
The afternoon session for each event covers self-employment tax return analysis, which helps credit unions enhance their understanding of self-employed borrowers and develop an understanding of the components of business tax returns.
In addition, this session covers allowable add-backs and required deductions. Speakers will demonstrate how to calculate income from various business structures, introducing the Arch MI Tax Return Analysis Calculator (AMITRAC), the industry’s most user-friendly Schedule Analysis form.
“Arch MI for Credit Unions is excited to bring this educational opportunity to so many of our partners this Spring,” says Arch MI’s Halverson. “Properly understanding how to utilize income for qualifying members is an integral part of the mortgage lending process. We hope that our training will help put more members in new homes this year!”
“These are pressing topics that we hear all the time from credit unions nationwide,” adds Fenwick. “As a result, we developed this Mortgage Essentials training series to provide credit unions with first-hand, expert advice on how to best manage members by providing them with this valuable information that will help them succeed in their professional lives. In turn, the credit unions enhance their value as trusted resources. That’s the goal, and we look forward to delivering this curriculum over the next few months.”
Carrie Fenwick