Question: Can you please confirm that if a borrower has multiple retirement accounts and is of retirement age, that we can use all accounts to show enough funds to prove a 3-year continuance even if the distribution is only from one account? Answer: Yes, I can confirm. Fannie Mae directly addresses this ability in their […]
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Related Article Title: Fannie Mae’s Top Trending Questions – Dated June 30, 2021 Written by: Lloyd Rutherford, Staff Writer The Top Trending questions or FAQs from the agencies are one of the best ways to get clarification on situations you may not run into every day such as self-employed borrowers. Many times, the agencies clarify […]
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NOTE: Mortgage Currentcy Links Each Agency’s Latest FAQs under the agency in the “Charts & Checklists” link. Written by: Lloyd Rutherford, Staff Writer The Top Trending questions or FAQs from the agencies are one of the best ways to get clarification on situations you may not run into every day such as self-employed borrowers. Many […]
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Written by: Lloyd Rutherford, Staff Writer In this month’s Fannie Mae update we have a win for refinances and clarification on age of appraisals. Rule Synopsis: Fannie Mae is updating their selling guide for a few topics. This article will focus on the topics that benefit originators. The updates announced in this Selling Bulletin that […]
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Written by: Lloyd Rutherford, Staff Writer Appraisal updates may seem innocuous, but the great originator stays up to date on those zingers that can sneak up on you in your loan process. Appraisals are high on that “zinger” list so read this update to stay informed! Rule Synopsis: Fannie Mae publishes a quarterly Appraiser Update […]
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