Tag: retirement

COVID Overlay – Proof of Retirement Liquidation

Question: Fannie Mae has a COVID overlay that states if you are using stocks or retirement accounts you must show liquidation. What is Freddie’s stance? For instance, do they allow for no liquidation when you have 20% or greater of what you need without proof of liquidation? Answer: Unfortunately, Fannie Mae and Freddie Mac align […]

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If a Veteran is due to retire, but has not done so yet, does a VA borrower need to actually receive retirement and disability before we can count it as income?

Answer: With the revision of Chapter 4 of the Lenders Handbook, VA added some new details regarding disability and pension income where previously they had offered no guidance on several issues. If your borrower is simply receiving the ‘normal’ service-connected disability common to new retirees and military retirement, then there wasn’t really anything new. VA […]

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