NOTE: Mortgage Currentcy Links Each Agency’s Latest FAQs under the agency in the “Charts & Checklists” link. Written by: Lloyd Rutherford, Staff Writer The Top Trending questions or FAQs from the agencies are one of the best ways to get clarification on situations you may not run into every day such as self-employed borrowers. Many […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.
Question: I have a borrower that has receives $800 weekly “PER DIEM” from his employer which is non-taxable. With a full VOE breaking the per diem out, can it be used in qualifying? Answer: Unfortunately, FHA does not consider per diem payments as income, nor does the IRS. FHA considers them a reimbursement to cover […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.
Written by: Tammy Butler, Publisher New Chart – USDA – Chapter 9 – Attachment 9A – Old vs. New Guidance In our March Rules issue, our USDA expert David Hail wrote an article about the advanced copy of rules changes for Chapter 9. Left unchanged the new rules were effective 30 days after the notice. […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.
Written by: Lloyd Rutherford, Staff Writer One of the best ways that you can learn is to commit to reading the FAQs or Top Trending Questions published by the agencies. This article contains the latest Trending Questions, and we will bet that you learn a lot! Rule Synopsis: Fannie Mae updated their top trending questions. […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.
Written by: David Hail, Staff Writer USDA is cranking out a massive amount of Chapter updates with extensive changes and clarifications. Anyone working with USDA needs to keep up with these guideline updates and clarifications that our USDA expert outlines for you in this article. Rule Synopsis “Income Analysis” (Chapter 9) is one of the […]
A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.