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The Note Investor PodcastAuthor: Dan Deppen
The Note Investor Podcast will guide you through the ups and downs of note investing, and teach you about all of the nitty gritty details of the business that other people won't talk about . Your host, Dan Deppen is a former aerospace engineer and product manager who transitioned away from cubicle life to full time note investing in 2018. Our website is www.fusionnotes.com, where you can subscribe to this podcast, comment, and find links to other information on note investing. Language: en Genres: Business, Entrepreneurship, Investing Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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How to verify income for self-employed borrowers
Episode 148
Tuesday, 14 July, 2026
Most seller finance borrowers are self-employed, and that's where a lot of originators get tripped up. In this episode I walk through how we actually verify self-employed income at Call The Underwriter, why it matters for Dodd-Frank compliance and your own protection, and the system we use to get through it fast. I cover why W-2 and fixed-income borrowers are easy, why tax returns usually understate self-employed income, and why 12 complete business bank statements are the workhorse document. I also get into the expense ratio approach for turning gross deposits into usable income, the account and commingling problems we run into constantly, and what borrower behavior tells you before you ever see the file. Plus the story of a loan with a mystery dog kennel that supposedly made $30k in a single month. If you originate or buy seller finance notes, this one will clear up a lot of confusion around documenting income that doesn't come with a pay stub. Questions? Drop them in the comments or email dan at calltheunderwriter.com. For more info on underwriting seller finance loans or get started on a deal go to www.calltheunderwriter.com
