Tag: Wedding Gifts

Freddie Mac Selling Guide Updates – Bulletin 2020-36 – Dated September 2, 2020 – Updated “Grossing Up Income Chart”

Written by: Lloyd Rutherford, Staff Writer Freddie Mac is getting back into the rhythm of guideline changes and clarifications.  This update includes some important changes that may have you considering using Fannie Mae for some types of income! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will […]

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Freddie Mac & FHA – Wedding Gifts: Can wedding gifts be used for either conventional or FHA and if so, how do I document that? [MC Chart – Gift Funds & Gift of Equity]

Answer: FHA The short answer is that you are going to have to talk directly with your internal underwriting management or the underwriting department of whoever you are sending this loan to.  You’ve got to find out if they will even allow wedding gifts to be used.  FHA is silent on this topic in the […]

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