To combat Reverse Occupancy Fraud, Fannie Mae will no longer allow rental income to be used if the borrower does not own a principal residence or does not have a current housing expense.

Related Article Title: Fannie Mae SEL–2019-08 – Employment Contracts, Rental Income, AML – Dated October 2, 2019 Written by: Lloyd Rutherford, Staff Writer This is a small bulletin, but big update, so be sure to read through the details carefully. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This […]

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