Tag: Variable Income

Fannie Mae & Freddie Mac – Updated FAQs for COVID – Dated September 1, 2021

Written by: Lloyd Rutherford, Staff Writer As COVID restrictions on the housing market start to unwind the FAQs are an important way to update your knowledge about what rules are or are not in effect. Rule Synopsis: The GSE’s (Fannie Mae and Freddie Mac) have updated their FAQ documents for COVID related (temporary) changes to […]

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Fannie Mae – DU/DO Release Notes DU Version 11.0 – Dated February 10, 2021 – Effective March 13, 2021

Written by: Lloyd Rutherford, Staff Writer Wow!!  Fannie Mae is dropping the hint that DU approvals and conditions may vary by lender. So, who you work for may help or harm you!  Read this article to find out more. Rule Synopsis: Fannie Mae will be releasing DU Version 11.0 – the newest DO/DU Version to […]

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Fannie Mae Selling Guide Updates – SEL-2021-02 – Dated March 3, 2021

Written by: Lloyd Rutherford, Staff Writer Selling guide updates are important to read each month.  Our experts distill the changes you need to know to help you understand them and move on with your day. Rule Synopsis: Fannie Mae is updating their selling guide for a couple of topics. This article will focus on the […]

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Fannie Mae – Updated FAQs for COVID – Updated January 14, 2021 and Freddie Mac – Updated January 13, 2021

Written by: Lloyd Rutherford, Staff Writer FAQs are a fantastic way to get clarification on guidelines that may not have all the answers!  Take a few minutes each month to update your knowledge on the newest FAQs that we discuss in the rule’s issues.  Remember, that Mortgage Currentcy hosts the most recent FAQs on our […]

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Calculating Variable Income During COVID Layoff

Question: My client was out of work for several months due to COVID.  Fannie Mae and Freddie Mac are requiring us to back out the income for the time he was out of work.  Will FHA require this as well? MC – COVID Guidance – All Agencies Answer: Unfortunately, FHA has offered no options for […]

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