Plain-English references for loan officers and brokers working self-employed files — what underwriters check, who can prepare the P&L, and how to choose the right program.
Does a CPA have to prepare the P&L for a bank statement loan? Not always — preparer requirements vary by program. What to check before assigning the P&L.
What underwriters look for: period match, deposit tolerance, expense reasonableness, and preparer standards.
How to choose between 12-month and 24-month programs, and what each means for the P&L.
How Montgomery County loan officers get underwriting-ready P&Ls for self-employed borrowers — same business day.