Disability Income

VA – Grossing Up Disability Income

Question: Can VA Disability Income be grossed up, and if so, how much? Answer: The IRS website indicates that VA Disability is exempt from federal income tax. The guideline below from the Lenders Handbook explains that while non-taxable income can be grossed up, it can only be grossed up for calculating the DTI. It cannot be used [...]

2019-08-21T12:49:54-05:00August 26th, 2019|

Freddie Mac- Multiple Selling Guide Updates – Bulletin 2018-19 – Dated October 31, 2018 [NEW MTP™ Freddie Mac’s New Enhanced Relief Refinance Mortgage]

Written By: Lloyd Rutherford, Staff Writer The folks at Freddie Mac have been very busy as this is the second bulletin release this month.  Important updates to Rental Income Requirements, Social Security Income, and Enhanced Relief Refinance mortgages. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will [...]

2018-11-09T08:37:49-05:00November 9th, 2018|

Fannie Mae – Continuation of Income – What types of income require documenting a 3-yr. continuance and which ones do not? [NEW MTP – Documenting Continuance of Income]

Answer: Fannie Mae makes it easy to determine which types of income require documenting 3 years of continuance vs. income that does not require this documentation. Reference: B3-3.1-01, General Income Information (7/25/2017) Continuity of Income A key driver of successful homeownership is confidence that all income used in qualifying the borrower will continue to be [...]

2018-05-25T15:48:21-05:00May 24th, 2018|