Tag: assignment of debt

Fannie, FHA & USDA– Divorced – Contingent Liabilities: Is there a waiting period for not counting a liability that was assigned to an ex-spouse by court order? [MC Divorced Borrower Chart]

Answer – Fannie Mae Says: Neither Fannie or Freddie require a minimum period of time as long as the debt has been assigned and the lender documents via appropriate pages from divorce decree. Reference:  Fannie Mae B3-6-05, Monthly Debt Obligations (01/30/2018) Court-Ordered Assignment of Debt When a borrower has outstanding debt that was assigned to […]

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