Radian Timely Topics: GSE Guideline Updates: Rental Income & Self-Employed Borrowers
More important guideline and requirement updates from the GSEs, Fannie Mae and Freddie Mac. There were several updates on rental income and self-employed borrowers. Are you prepared to review your next loan file with these loan characteristics?
In this Radian Timely Topics video, we will discuss:
- Documentation requirement updates
- Calculation changes
- Seasoning and ownership requirements
- Scenarios to help you better these changes
Resources:
- https://guide.freddiemac.com/app/guide/bulletin/2023-19?utm_source=eloqua&utm_medium=email&utm_campaign=2023-10-04_POLICY_Guide-Policy
- https://singlefamily.fanniemae.com/media/37021/display
- https://singlefamily.fanniemae.com/media/37016/display#page=338
- https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B3-Underwriting-Borrowers/Chapter-B3-3-Income-Assessment/Section-B3-3-2-Self-Employment-Income/1032990811/B3-3-2-01-Underwriting-Factors-and-Documentation-for-a-Self-Employed-Borrower-10-04-2023.htm#Length.20of.20Self-Employment
- https://sf.freddiemac.com/working-with-us/origination-underwriting/mortgage-products/cash-out-refinance
- https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B2-Eligibility/Chapter-B2-1-Mortgage-Eligibility/Section-B2-1-3-Loan-Purpose/1032996711/B2-1-3-03-Cash-Out-Refinance-Transactions-02-01-2023.htm