Tag: Tax Returns

Freddie Mac Selling Guide Updates – Bulletin 2021-16 – Dated May 5, 2021- Updated Charts – Refinance Loans – All Agency & Age of Tax Returns – Freddie Mac

Written by: Lloyd Rutherford, Staff Writer Article Intro Paragraph Agency updates are an important way to stay up to date.  Our Freddie Mac expert has read through the update and breaks it down into bullet points for you! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will […]

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Fannie Mae Issues Fact Sheet for Successfully Executing IRS Form 4506-C and Reverifying Tax Transcripts – Dated February 2021

Written by: Lloyd Rutherford, Staff Writer The new IRS 4506-C is required on or before May 1, 2021.  While this may seem like just a form change, the truth is that there are many details surrounding this that everyone needs to understand.  Read this article to update your knowledge on the important points. Rule Synopsis: […]

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Maximum Rental Periods & Second Homes

Question: My client owns a second home and rents it out minimally throughout the year.  I do not need this income to qualify the borrower.  If they have any rental income on their tax returns, is this still considered a second home? Answer: Fannie Mae’s second home requirements state “If the lender identifies rental income […]

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