Q&A - May 25, 2018

Fannie and Freddie – New Graduate Employment History – If a borrower is a new graduate and is now employed, can we use the years in college as employment history?

Answer: Yes. Fannie and Freddie do not necessarily require a two-year history until it comes to variable income sources such as Bonus, OT, Commission, and Self-employment.  You may want to include the borrower’s school transcripts or trade-school diploma to show they were in school for the past couple of years and that the job lines [...]

2018-05-25T17:09:42-05:00May 24th, 2018|

Fannie Mae & Freddie Mac – Student Loan Debt – What are the guidelines for DEFERRED but COSIGNED student loan debt for both Fannie and Freddie? [MC-STUDENT LOAN CHART]

Answer: Fannie and Freddie aren’t so kind as to address both deferred AND cosigned student debt.  They have a section if someone else is paying for the debt (whether they are obligated on the loan or not) and then they have a section on student debt requirements, including deferment.  Fannie and Freddie do not care if [...]

2018-05-25T17:12:15-05:00May 24th, 2018|

Freddie Mac – HomeOne® Mortgage – Does Mortgage Currentcy have a Mortgage Talking Point™ on the New Freddie Mac-HomeOne® Program™? [NEW MTP-Freddie Mac’s NEW HomeOne® Program™]

Answer: Yes, Freddie Mac announced this month that this new program will be available July 29, 2018. To help you get the word out and educate your referral sources on this new program, we are releasing a Mortgage Talking Point™. Supporting Resource: Mortgage Talking Point™ – Freddie Mac’s NEW HomeOne® Program™  Social Media Post: Freddie [...]

2018-05-25T17:13:19-05:00May 24th, 2018|