Filetype Excel XLSX | Posted on 14 Aug 2022 | 4 years ago
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326x Filetype XLSX File size 0.10 MB Source: www.jmaclending.com
Sheet 1: User Guide
| BUSINESS BANK STATEMENT WORKSHEET USER GUIDE | PERSONAL BANK STATEMENT WORKSHEET USER GUIDE | ||||||||||||||||||||||||||||||||||||||
| User Input Fields | Results and Calculated Fields | User Input Fields | Results and Calculated Fields | ||||||||||||||||||||||||||||||||||||
| The below fields are required inputs from the user: | Results from user inputs will be provided in the following cells: | The below fields are required inputs from the user: | Results from user inputs will be provided in the following cells: | ||||||||||||||||||||||||||||||||||||
| Under Income Analysis Method: | Under Income Analysis: | Under Borrower Details: | Under Income Analysis: | ||||||||||||||||||||||||||||||||||||
| Use the dropdown menu to select one of the following options: | Total Of Gross Deposits | Borrower | Total Income over most recent 12 months: | ||||||||||||||||||||||||||||||||||||
| Total Net Deposits | Financial Institution | Total Income over last 24 months: | |||||||||||||||||||||||||||||||||||||
| Third Party P&L Statement | Total Expenses | Account Number | Max Income allowed: | ||||||||||||||||||||||||||||||||||||
| Business Expense Statement Letter | Net Income | Broker/Company | |||||||||||||||||||||||||||||||||||||
| 70% Fixed Expense Ratio | Total Net Expenses | Loan Officer | Final Results will be provided here: | ||||||||||||||||||||||||||||||||||||
| CPA Compiled P&L Statement | Monthly Expense Ratio Earnings | ||||||||||||||||||||||||||||||||||||||
| Months Reviewed | Under the Monthly Gross Deposit Columns: | ||||||||||||||||||||||||||||||||||||||
| Each selection will display the required fields necessary for the calculations. | Monthly Net Income | The gross deposits applicable during each respective month/year. | |||||||||||||||||||||||||||||||||||||
| Minimum Monthly Net Income | |||||||||||||||||||||||||||||||||||||||
| Net Deposits/Gross Receipts | Under Deposits to be Excluded: | ||||||||||||||||||||||||||||||||||||||
| Under Borrower Details: | Any deposits to be excluded from each applicable period. | ||||||||||||||||||||||||||||||||||||||
| Borrower: | Results for each field will vary. This is determined by the Income Analysis Method selected by the user. | ||||||||||||||||||||||||||||||||||||||
| Business/Entity Name: | Setting the date for Gross Deposits (Loan Officer Tab) | Setting the Review Period (Loan Officer Tab) | |||||||||||||||||||||||||||||||||||||
| Financial Institution: | Final Results will be provided here: | Select a year from the dropdown menu located in the upper-leftmost year. | Select 12 Months or 24 Months from the dropdown menu in the upper left corner. | ||||||||||||||||||||||||||||||||||||
| Account Number: | |||||||||||||||||||||||||||||||||||||||
| Broker/Company: | |||||||||||||||||||||||||||||||||||||||
| Loan Officer: | |||||||||||||||||||||||||||||||||||||||
| Underwriter (Internal Only): | |||||||||||||||||||||||||||||||||||||||
| Under Business Information: | If the user has selected: Borrower Prepared P&L Statement: | ||||||||||||||||||||||||||||||||||||||
| Percentage of Ownership: | Please also describe the business and comment why the expense ratio is reasonable. | Select a month from the dropdown menu located in the upper-leftmost month. | |||||||||||||||||||||||||||||||||||||
| End of Most Recent Statement: | |||||||||||||||||||||||||||||||||||||||
| Does the business pay employees/contractors: | |||||||||||||||||||||||||||||||||||||||
| Does the business sell goods or offer services: | |||||||||||||||||||||||||||||||||||||||
| Does the business rent space: | |||||||||||||||||||||||||||||||||||||||
| Annual Sales: | |||||||||||||||||||||||||||||||||||||||
| Total Number of Employees: | |||||||||||||||||||||||||||||||||||||||
| Under Gross Deposits: | |||||||||||||||||||||||||||||||||||||||
| Any gross deposits applicable during each respective month/year. | |||||||||||||||||||||||||||||||||||||||
| Dates for all other deposits will automatically be calculated. | |||||||||||||||||||||||||||||||||||||||
| Under Deposits to be Excluded: | |||||||||||||||||||||||||||||||||||||||
| Any deposits to be excluded during each respective month/year. | |||||||||||||||||||||||||||||||||||||||
| Setting the date for Gross Deposits | |||||||||||||||||||||||||||||||||||||||
| Select a year from the dropdown menu located in the upper-leftmost year. | |||||||||||||||||||||||||||||||||||||||
| Select a month from the dropdown menu located in the upper-leftmost month. | |||||||||||||||||||||||||||||||||||||||
| Dates for all other deposits will automatically be calculated. | |||||||||||||||||||||||||||||||||||||||
| BUSINESS BANK STATEMENT WORKSHEET | ||||||||||||
| INCOME ANALYSIS METHOD | Months to Review | Expense Ratio | INCOME ANALYSIS | AMOUNT | DESCRIPTION | |||||||
| CPA Compiled P&L Statement | 24 Months | 50% | 4 | Total Of Gross Deposits | $0.00 | Calculated Field | ||||||
| Total Net Deposits | $0.00 | Calculated Field | ||||||||||
| USER INPUTS | AMOUNT | DESCRIPTION | Total Expenses | Calculated Field | ||||||||
| Gross Receipts (All Months) | $0.20 | CPA Prepared P&L Statement | Net Income | Calculated Field | ||||||||
| Net Total Income (All Months) | $500,000.00 | CPA Prepared P&L Statement | Total Net Expenses | Calculated Field | ||||||||
| Monthly Expense Ratio Earnings | Calculated Field | |||||||||||
| Months Reviewed | 0 | Calculated Field | ||||||||||
| Monthly Net Income | $20,833.33 | Calculated Field | ||||||||||
| Minimum Monthly Net Income | $20,833.33 | Calculated Field | ||||||||||
| Net Deposits/Gross Receipts | #DIV/0! | Calculated Field | ||||||||||
| NSF/BUSINESS QUALIFICATION: | OK | Please describe the business and comment why the expense ratio is reasonable: | ||||||||||
| DEPOSIT QUALIFICATION: | Err:504 | |||||||||||
| YEAR | MONTH | OPENING BALANCE | ENDING BALANCE | GROSS DEPOSITS | DEPOSITS TO BE EXCLUDED | MONTHLY NET DEPOSITS | REASON FOR DEDUCTION | # NSFs | ||||
| 2019 | January | $0.00 | ||||||||||
| 2018 | December | $0.00 | ||||||||||
| 2018 | November | $0.00 | ||||||||||
| 2018 | October | $0.00 | ||||||||||
| 2018 | September | $0.00 | ||||||||||
| 2018 | August | $0.00 | ||||||||||
| 2018 | July | $0.00 | ||||||||||
| 2018 | June | $0.00 | ||||||||||
| 2018 | May | $0.00 | ||||||||||
| 2018 | April | $0.00 | ||||||||||
| 2018 | March | $0.00 | ||||||||||
| 2018 | February | $0.00 | ||||||||||
| 2018 | January | $0.00 | ||||||||||
| 2017 | December | $0.00 | ||||||||||
| 2017 | November | $0.00 | ||||||||||
| 2017 | October | $0.00 | ||||||||||
| 2017 | September | $0.00 | ||||||||||
| 2017 | August | $0.00 | ||||||||||
| 2017 | July | $0.00 | ||||||||||
| 2017 | June | $0.00 | ||||||||||
| 2017 | May | $0.00 | ||||||||||
| 2017 | April | $0.00 | ||||||||||
| 2017 | March | $0.00 | ||||||||||
| 2017 | February | $0.00 | ||||||||||
| 2017 | January | $0.00 | ||||||||||
| TOTAL | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 0.00 | |||||
| Borrower Details: | Business Information | |||||||||||
| Borrower: | Percentage of Ownership: | 100% | ||||||||||
| Business/Entity Name: | End of Most Recent Statement: | |||||||||||
| Financial Institution: | Does the business pay employees/contractors: | Yes | ||||||||||
| Account Number: | Does the business sell goods or offer services: | No | ||||||||||
| Broker/Company: | Does the business rent space: | Yes | ||||||||||
| Loan Officer: | Annual Sales: | $1,000,000.00 | ||||||||||
| Underwriter (Internal Only): | Total Number of Employees: | |||||||||||
| Notes | Comments | |||||||||||
| A business license or a letter from the business's tax professional certifying two years of self-employment in same line of business. P&L Sales/Revenue must be supported by the provided bank statements. Total deposits per bank statements, minus any inconsistent deposits, must be greater than, or no more than, 10% below revenue reflected on P&L. The bank statements and P&L must cover the same time period. Qualifying income is the lower of (a) the Net Income indicated on the P&L divided by 24 or 12, (b) total deposits per bank statements, minus any inconsistent deposits, divided by 24 or 12, or (c) the income indicated on the initial 1003. |
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| Please refer to the User Guide tab for any questions. | Please contact us for any questions regarding exceptions. | |||||||||||
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