Table of Contents
Where can I find additional questions about Fannie Mae products?
If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources. You can also download the printable 1,200+ page PDF, which include links.
Does Fannie Mae include business debt in DTI ratio?
Fannie Mae will waive this requirement and not require the debt to be included in the DTI ratio if the following documentation is provided: a fully executed sales contract for the current residence, and confirmation that any financing contingencies have been cleared. Business Debt in Borrower’s Name
Does Fannie Mae require open 30-day charge accounts to be included?
Fannie Mae does not require open 30–day charge accounts to be included in the debt-to-income ratio. See B3-6-07, Debts Paid Off At or Prior to Closing, for additional information on open 30–day charge accounts. For details regarding the qualifying impact of other real estate owned, see B3-6-06, Qualifying Impact of Other Real Estate Owned.
Fannie Mae does not require open 30–day charge accounts to be included in the debt-to-income ratio. See B3-6-07, Debts Paid Off At or Prior to Closing, for additional information on open 30–day charge accounts. Other Real Estate Owned—Qualifying Impact
Will Fannie Mae include debt in the DTI ratio?
Fannie Mae will waive this requirement and not require the debt to be included in the DTI ratio if the following documentation is provided: a fully executed sales contract for the current residence, and confirmation that any financing contingencies have been cleared.
How do lenders transact business with Fannie Mae?
This part describes the requirements associated with the two primary ways lenders transact business with Fannie Mae: selling whole loans for cash and pooling loans into Fannie Mae mortgage-backed securities (MBS), which includes Uniform Mortgage-Backed Securities (UMBS).
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