In Fannie Mae’s announcement, it states that the change is being What that means is all income and asset documentation must be dated no more than 60 days from the date of the mortgage note. ![]() Several of the changes announced by the GSEs address potential concerns surrounding proof of income and assets, two things that can, unfortunately, change rather quickly for some borrowers right now.Īccording to both of the GSEs, they are changing the age of document requirements for most income and asset documentation from four months to two months. Steps to address issues that currently exist within the lending process.įannie Mae and Freddie Mac announced Tuesday that they are tightening some lending standards while also beginning to offer several “loan processing flexibilities.” ![]() With the coronavirus continuing to wreak havoc across theĬountry, the nation’s two largest sources of mortgage funding are taking additional
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