Build Global Cash Flow the Way Lenders Do

Learn how lenders calculate global cash flow, apply addbacks, analyze debt obligations, and stress-test borrower income across multiple entities and income sources.

Understand How Different Lenders Read the Same Return

Learn why SBA lenders, CMBS lenders, life companies, and community banks can interpret the exact same borrower tax returns very differently.

Identify Red Flags Before Underwriting Does

Learn how to recognize transcript issues, declining income trends, affiliate exposure, liquidity concerns, and underwriting inconsistencies before the file reaches credit.

Learn how commercial lenders analyze risk, cash flow, and borrower tax returns.

Commercial underwriting is not just about reading tax returns. It is about identifying risk, understanding borrower cash flow, and knowing how different lenders interpret the same financial information. Part II focuses on global cash flow analysis, addbacks, lender-specific underwriting standards, and identifying red flags before the file reaches credit. The course also covers how SBA lenders, CMBS lenders, life companies, and community banks evaluate the same borrower differently during underwriting. Designed for mortgage professionals looking to strengthen their borrower analysis, underwriting knowledge, and commercial lending structuring skills.

Michael Boggiano

Hi, I'm Michael Boggiano. I've spent more than 25 years originating and structuring commercial real estate loans with a focus on small balance and multifamily lending. My experience was built transaction by transaction, learning how lenders evaluate risk and what it takes to move a deal from initial review through closing. Early in my career I noticed a real lack of practical guidance on how these deals actually work. That gap is what led me to create the Academy for Commercial Lending. My goal is to help mortgage professionals build genuine confidence, understand how lenders think, and approach commercial lending with a stronger foundation. If you've been looking for real-world insight from someone who has worked through these transactions firsthand, you're in the right place.

Curriculum

4 Chapters · 7 Lessons

  1. 1

    Chapter 6

    1. (Included in full purchase)

      Key Line Items

    2. (Included in full purchase)

      Quiz

  2. 2

    Chapter 7

    1. (Included in full purchase)

      Addbacks, Adjustments, and Global Cash Flow

  3. 3

    Chapter 8

    1. (Included in full purchase)

      How Lenders Read the Same Tax Return Differently

    2. (Included in full purchase)

      Quiz

  4. 4

    Chapter 9

    1. (Included in full purchase)

      Red Flags, Deal-Killers, and How to Get Ahead of Them

    2. (Included in full purchase)

      Closing

What Industry Professionals Are Saying

Practical commercial lending education built around real underwriting, borrower analysis, and lender decision-making.

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“This course provided a real-world understanding of how lenders evaluate borrower risk, global cash flow, and underwriting red flags before submission.”
Matt D.

Mortgage Broker

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“One of the few commercial lending courses that explains how different lenders interpret the same borrower differently. Very practical and directly applicable to real transactions.”
Charles M.

Loan Originator

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“The global cash flow and addback analysis sections were extremely valuable. This course helped me better understand how underwriters actually structure and evaluate commercial loan files.”
Austin V.

Loan Assistant

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“Strong operational training focused on lender thinking, borrower analysis, and identifying problems before underwriting does. Very different from generic commercial lending education.”
Christina

Realtor

Strengthen Your Commercial Underwriting Skills

Learn how commercial lenders evaluate borrower risk, analyze global cash flow, identify red flags, and interpret tax returns across different lending platforms. Start building a stronger commercial lending foundation today.

$199.00

Enroll now