employment verification

Fannie Mae Selling Guide Announcement SEL-2018-08 – Dated September 2, 2018-Effective Immediately [NEW Chart – Using Employment-Related Assets for Income]

Written By: Lloyd Rutherford, Staff Writer Fannie Mae continues to make the originator’s life easier by helping more borrowers that “make sense” qualify for home loans.  Read through this update to see the new changes and tips on getting the word out to your clients. Rule Synopsis: Fannie Mae is updating their selling guide for [...]

2018-10-10T09:56:45-05:00October 10th, 2018|

USDA – Revisions to USDA Rural Development HB-1-3555 Chapter 9 “Income Analysis”-Advance Notice-Effective Date Pending [NEW MTP-The Top 10 USDA Changes to Income-Related Requirements]

[Update:  Released 10-17-2018 – Official Effective Date of 12-15-2018 for Guideline Changes. See Agency Announcement in Supporting Resources.] Written By: David Hail, Staff Writer Big changes are on the horizon for USDA with regard to income analysis.  If you work with USDA loans, you must read this update and the attached releases.  Be sure to spread [...]

2018-10-17T14:49:18-05:00October 10th, 2018|

Fannie Mae and Freddie Mac – Remote Worker – If a borrower works remotely for a paperless company, is an email verifying employment acceptable?

Answer: There is no specific guideline addressing your situation. Generally speaking, any form of employment documentation should be via corporate letterhead and signed and dated by the employer’s supervisor or human resources department. Typically, the reason for the letter is to acquire a signature of someone ‘in-charge’ (think Written VOE) at the employer and an [...]

2018-08-23T15:49:45-05:00August 22nd, 2018|