Tag: continuance

Using Retirement Assets to Document 3-Year Continuance

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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When Can Mandatory Overtime Income Be Used?

Question: My client works for the State Prison system and is required to work 5 hours of overtime per week as a condition of his job.  He has been there for 1.5 years.  Can I use this income to qualify him? Mortgage Currentcy Income Analyzer – Overtime Income Answer: Required History: One year Continuance: Income […]

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