Fannie gift funds cannot come from a trust or estate account. Gifts must be from an individual who must be related to the borrower.

Rule Synopsis: Fannie Mae has updated their FAQs for underwriters. There are eight total questions on this list. Only one new question. Interpretive CommentsThe new question is listed below: Q7: Addresses whether or not Fannie Mae requires a borrower signature on the Closing Disclosure. A7: No. But Fannie agrees that it is a best practice […]

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