WebDec 16, 2024 · clarified that a three-year continuance of income is only required for retirement income paid in the form of a distribution from a 401(k), IRA, or Keogh … WebAug 9, 2024 · For income types with documentable continuance, the documentation requirements for each individual income type listed within Topic 5300 provide the minimum documentation required in order for the …
Fannie Mae Forgoes Issuing Benchmark Notes on August 3, 2024 ...
Web4155.1 4.E.3.c Government Assistance Programs Income received from government assistance programs is acceptable for qualifying, as long as the paying agency provides documentation indicating that the income is expected to continue for at least three years. If the income will not be received for at least three years, it may be WebEligible retirement account balances (from a 401(k), IRA, or Keogh) may be combined for the purpose of determining whether the three-year continuance requirement is met. Note: The borrower must have unrestricted access to the accounts without penalty. photo run and bike le bignon
Selling Guide Announcement SEL-2012-04 - Fannie …
WebMay 3, 2024 · If the retirement account(s) from which the borrower is currently taking distributions is projected to be depleted within three (3) years, additional, eligible retirement accounts assets, may be used in aggregate, to support the determination of three (3) year continuance. This is applicable to Freddie Mac LPA and Fannie Mae DU transactions. WebApr 5, 2024 · Lender must document 3–year continuance. alimony, child support, or separate maintenance. distributions from a retirement account – for example, 401(k), … WebSep 1, 2024 · than 90 days after the end of its fiscal year. We have revised policy to include an additional stipulation that the seller/servicer must submit an updated Form 582 and email Fannie Mae within five business days of any of the occurrence of the specified items above. photo rumilly