Tag: Retirement Income

Future Retirement Income from Active Duty Retirement

Question: Will VA allow future retirement income when someone is retiring from active duty?  Their retirement is set for 10 months after the note date and he will work until that date.  MC – Expected Income Chart – All Agencies Answer: VA would allow the use of the retirement income as long as you can […]

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How Does FHA Calculate 401k Distributed Income During Retirement Years?

Question: My client has income from their 401k. Each year this is a different amount based on their needs.  How would I count this type of income for an FHA loan? Mortgage Income Analyzer™ – Retirement Account Withdraws Answer: A two-year average may be acceptable for the 401k distributions, if this income type is going […]

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Fannie Mae’s Top Trending Questions – Dated May 2019

Written by: Lloyd Rutherford, Staff Writer Keeping up with rule changes is a challenge for even the most experienced underwriter or originator. That is part of the value of Mortgage Currentcy! In this article, Fannie Mae has updated their “trending questions” to keep you even more in the know! Rule Synopsis: Fannie Mae FINALLY updated […]

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Fannie Mae Selling Guide Announcement SEL–2019-06 – Dated July 3, 2019

Written by: Lloyd Rutherford, Staff Writer Important updates from Fannie Mae’s seller bulletin, especially for those of you working with HomeReady® Buyers! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates announced in this Selling Guide Announcement that […]

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Fannie Mae Issues Fact Sheet for the Impact to Tax Returns and Income Reporting due to the Tax Cuts and Jobs Act – Dated April 16, 2019 [NEW MTP™- The Top 6 Tax Return Changes Affecting Income Documentation] AND [Updated Chart – Retirement Income Chart]

Written By:  Lloyd Rutherford, Staff Writer Those who master the art of deciphering the tax return for qualification purposes are those who master their market.  The tax return and requirements have changed drastically.  This article will keep you up to date on what you need to know. Rule Synopsis: Fannie Mae publishes a useful Fact […]

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