Fannie Mae Selling Guide Announcement SEL–2019-06 – Dated July 3, 2019

Written by: Lloyd Rutherford, Staff Writer Important updates from Fannie Mae’s seller bulletin, especially for those of you working with HomeReady® Buyers! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates announced in this Selling Guide Announcement that [...]

2019-07-09T10:50:39-05:00July 10th, 2019|

FHA – FHA Expected Income – Relocation: Can we use the income when a client is transferring with the same company, but different job, and will not have a paycheck prior to closing?

Answer: FHA would allow the new income to be used for qualifying per their Expected Income guideline below.  If you can comply with this guideline, then the income should be acceptable. Reference: 4000.1, II, A, 4, c xii (L) Expected Income (TOTAL) (1) Definition:  Expected Income refers to income from cost-of-living adjustments, performance raises, a new job, [...]

2018-12-26T07:47:59-05:00December 25th, 2018|