Freddie Mac issued Guide Bulletin 2016-19 revising Freddie Mac’s income qualification requirements and guidance. The revisions provide additional requirements and guidance on matters that impact the analysis of stable monthly income, such as: industry employment trends (e.g., employment characteristics); determination of stability and calculation of fluctuating earnings; and self-employment. Chapters 5301, 5302, 5303, 5304, 5305 and 5307 of the Single-Family Seller/Servicer Guide have been updated to reflect the revisions. The revisions apply to mortgages with settlement dates on or after March 6, 2017.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
