When any party has as much money and assets as Trump has, they hire teams of quality experts who create their financials for them. Trump would never stay awake at night to do his own financials. They are far too complicated.
As to estimates of the future, frankly that is news to me. But as an appraiser of real property, we did particular estimates of earnings but we were also not accountants or experts on predicting the future.
I agree however with the thrust of your remarks.
Assets refer to a wide variety of items you own that have a monetary value. When you apply for a mortgage, the lender looks into your asset inventory and determines their cash value to make sure that you are capable of returning the loan despite facing financial hardship, such as a job loss, during the repayment period.
There could be various asset types, including:
● Money, savings and checking accounts, certificates of deposit (CDs), and other similar sources — cash and equivalent to cash
● Tradable stocks, bonds, or something that can be converted to cash without dropping their actual price — liquid assets
● Lands, vehicles, antiques, business property, and anything that has monetary value but cannot be converted into cash quickly and may lose some of their value in the conversion process — fixed assets
● Investment money that is lent for interest, including government bonds, securities, and any type of investment money that yields interest — fixed-income assets
● IRA, 401(k) accounts, mutual funds, or anything that secures your ownership in a company — equity assets
You can also categorize them into tangible (physical) and intangible (nonphysical) assets. The lender assesses your positive net worth, indicating your assets have more value than your liabilities. It also helps establish your debt-to-income ratio.
To do the required evaluations, America Mortgages requires only an International Credit Report, Accountant Reference, and some paper documents verifying your funds.
When you apply for a loan using loan application form 1003, lenders examine your asset inventory to determine cash value to see if you can repay if under duress
www.americamortgages.com