Tag: average income

What Temporary Guidance Has Been Issued by FHA for Self-Employed Borrower Income?

Question: I am being challenged with a self-employed file and documenting it correctly.  What is needed in today’s COVID world? Answer: The requirements for the YTD P & L and the 2 months of bank statements are standard underwriting requirements. The only new COVID-related requirements for self-employed borrowers were recently issued in Mortgagee Letter 2020-23 […]

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