Tag: Mortgage Credit Certificates

Mortgage Credit Certificates and Refinances

Question: When a client’s original loan is a Housing Finance Agency Mortgage Credit Certificate, can a refinance be done while keeping the MCC tax benefit?  MCC Income Analyzer – Chart Answer: Great question!  I found something to help you in the Fannie Mae selling guide, but I couldn’t quickly find anything on this subject immediately […]

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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 […]

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