We have a program that will take the sum of all liquid assets and divide the sum by 60 months. 1-02, Standards for Employment Documentation. com Fannie Mae Mae has just issued an update to the Selling Guide (SEL-2011-04) that affects underwriting of loans as follows: Deferred Student Loans While it has been Fannie Mae’s policy to include payments for deferred student loans in the DTI, Fannie Mae has. This is the denominator of the loan's Debt-to-Income Ratio. Temporary Leave Income. A 45% DTI ratio can sometimes be considered depending on a borrower's credit score and reserve requirements. Unless the lender has knowledge to the contrary, if the income does not have a defined expiration date and the applicable history of receipt of the income is documented (per. 1-09, Other Sources of Income in December 2020. Fannie Mae customers! Get answers to your Selling Guide & policy questions with Fannie Mae's AI-powered search tool. / Retirement/ Gov't Annuity/ Pension Income; Browse. Subpart B3: Underwriting Borrowers. monthly income from annuities, insurance policies, retirement funds, pensions, disability or death benefits, rental. Fannie Mae has also updated some fixed income guidelines. The total qualifying income that results may not exceed the borrower's regular employment income. Updated November 2023. While every. The borrower's monthly gross income is defined as the borrower's monthly income amount before any payroll deductions and includes the following items, as applicable: Social Security payments (including Social Security received by adults on behalf of minors or by minors intended for their own support); and. Temporary leave income: $2,000 per month. PART A Doing Business with Fannie Mae. Fannie Mae on Wednesday released its October 2023 update to its Selling Guide, aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy. 1. The documentation required for each income source is described below. Approximately 78% of our participants preferred to pay $100,000 for lifelong cash payments immediately at retirement than to pay. 7$11. 25 to determine the Borrower’s monthly gross. Fannie Mae Gift of Equity . The total qualifying income that results may not exceed the borrower's regular employment income. The inter vivos revocable trust must be established by one or more natural persons, solely or jointly. The lender must obtain. CONFIDENTIAL Fannie Mae Selling Guide Continuance of Income Calculating Income 24 See B3-3. 1, 2023. Mortgage qualification requirements for retirees: Assets. (Biweekly gross pay x 26 pay periods) / 12 months. a statement from the organization providing the income, a copy of retirement award letter or benefit statement, a copy of financial or bank account statement, a copy of signed federal income tax return, an IRS W-2 form, or. Fannie Mae has learned of a consumer fraud scam involving a person who claims to be a Fannie Mae employee contacting people offering to modify their mortgage and requesting money or gift cards. Total qualifying income = supplemental income plus the temporary leave income. the borrower’s most recent year of signed federal income tax returns, including Schedule 1 and Schedule E, or. Make sure you have your annuity and tax documents organized before you apply for the loan and you should be well-positioned to qualify. Chapter B3-4: Asset Assessment. PART A Doing Business with Fannie Mae. a cash-out refinance transaction with a DTI ratio greater than 45%. Example. 02 D Boiler and Machinery / Equipment / Mechanical Breakdown Insurance. DU will require the following: a completed Request for Verification of Employment (Form 1005), the borrower's recent paystub and IRS W-2 forms covering the most recent one-year period, or. This blog covers just some of the basics about establishing income continuance. The lender must verify the borrower's income in accordance with Section B3–3. This applies for a one-unit property in an amount up to 30% of the total gross income that is used to qualify the borrower for the mortgage if the boarder. 01 or $-0. HomeReady and Home Possible are commendable initiatives by Fannie Mae and Freddie Mac, respectively, aiming to make homeownership more attainable for low to moderate-income borrowers. the borrower's recent Leave and Earnings Statement (LES) for military income and entitlements. 1, Employment and Other Sources of Income. Her previous roles included litigation partner at Jenner & Block and general counsel at Fannie Mae. Variable Income. E. Published May 3, 2023Disability Income — Long-Term. Published August 3, 2022The new, user friendly Seller/Servicer Guide will make it significantly easier for you and your team to find, understand and share critical information. Stable and Predictable Income. If the trust is established jointly, there may be more than one primary beneficiary as long as the income or assets of at least one of the individuals. The lender must verify employment income for all borrowers whose income is used to qualify for the mortgage loan. Depository Assets. Her previous roles included litigation partner at Jenner & Block and general counsel at Fannie Mae. In some cases, Fannie Mae may require additional. Study with Quizlet and memorize flashcards containing terms like Private mortgage insurance (PMI) is usually required on _____ loans with loan-to-value ratios greater than _____ percent. An annuity is a contract between an individual and an insurance company, wherein the individual invests a sum of money in exchange for a series of periodic payments. Bonus pay at Fannie Mae Corporation ranges from $8,000 to $8,000 annually among. Web. For additional information, see B3-3. These can include various sources such as child support, alimony, social security income, VA benefits, interest income, 401K/pension income, or any other documented income that is deemed non-taxable. 501. part-time job, second job, or seasonal income. 80% if the owner of the asset (s) being used to qualify is at least 62 years old at the time of closing. $1. DU considers the following assets non-liquid assets: Cash Deposit on Sales, Net Worth of Business, Other Non-Liquid Asset, and Unsecured Borrowed Funds. Fannie Mae vs Freddie Mac vs Ginnie Mae . 02 C Ordinance or Law Insurance. The documentation must support the history of receipt, if applicable, and the amount, frequency, and duration of the income. financial markets. m. " Federal Home Loan Mortgage Corporation ," Page 1. These annuities are. the amount and duration of the borrower's “temporary leave income,” which may require multiple documents or sources depending on the type and duration of the leave period; and. For mortgages originated for sale to the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation. An inflation -adjusted annuity is a financial product that provides a stream of income that increases with inflation. Fannie Mae’s underwriting guidelines emphasize the continuity of a borrower’s stable income. Total verified liquid assets: $30,000. 1-09, Other Sources of Income. Refer to B3-3. (Weekly gross pay x 52 pay periods) / 12 months. an IRS 1099 form. General Information. 1, Employment and Other Sources of Income. If income from a government annuity or a pension account will begin on or before the first payment date, document the income with a benefit statement from the organization. Regular income amount: $6,000 per month. (Hourly gross pay x average # of hours worked per week x 52 weeks) / 12 months. For details, see Selling Guide section B3-4. Fannie Mae Guidelines Employment-Related Assets as Qualifying Income 33 Asset Requirements –If the employment-related assets are in the form of stocks, bonds, and mutual funds, 70% of the value (remaining after costs for the transaction and consideration of any penalty) must be used to determine the income stream toContinuity of Income . The primary beneficiary of the trust must be the individual (s) establishing the trust. Note: For loan casefiles that are not underwritten as a. Sources "B3-3. Standard Fannie Mae. So, $1,000 a month in child support counts as $1,250 a month. All of the following loan parameters must be met in order for employment-related assets to be used as qualifying income: Loan Parameter. The December Selling Guide update expands eligibility to allow the sale of loans secured by single-width manufactured homes; updates requirements related to the use of retirement, government annuity, and pension income; modifies our seller/servicer eligibility. An annuity is a financial product designed to pay a stream of income in the future. Asset Requirements. While every. 01 or $-0. 3; and. The requirement to reduce the value of retirement assets consisting of stocks, bonds, and mutual funds by 30% when measuring the three-year continuance for retirement income was removed from the Selling Guide B3-3. Funds needed to complete the. Total qualifying income = supplemental income plus the temporary leave income. Variable Income. Available liquid reserves: $12,000. 9 $1. If the borrower will return to work as of the first mortgage payment date, the. Purchased through an insurance company or financial institution, income annuities offer guaranteed payments over a specific period or for life. In some cases, Fannie Mae may require additional. Freddie Mac Form 65 • Fannie Mae Form 1003 URLA Effective 1/2021• Instructions Revised 10/2022 1e. Guide Resources. 3-01, Stocks, Stock Options, Bonds, and Mutual Funds, for. If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible toYou can calculate your DTI ratio by dividing your recurring minimum expenses by your total monthly income. Qualifying based on income. " Selling Guide: Fannie Mae Single Family. a copy of retirement award letter or benefit statement, a copy of financial or bank account statement, a copy of signed federal income tax return, an IRS W-2 form, or. If the Net Monthly Rental Income is a “breakeven” amount, the user must enter either $0. checking or savings accounts; investments in stocks, bonds, mutual funds, certificates of deposit, money market funds, and trust accounts; the amount vested in a retirement savings account; and. Tax returns are required if the borrower. B3-3. Sign-In Seller/Servicer ID Business Role: Looking for the servicing policy? Not a customer?. Study with Quizlet and memorize flashcards containing terms like Private mortgage insurance (PMI) is usually required on _____ loans with loan-to-value ratios greater than _____ percent. Download PDF Guide (Published: November 01 2023) Search the Guide (For best result, pose your search like a question. To gross up net income, the Servicer must: Establish the Borrower’s monthly net income in accordance with this Section 9202. In a significant policy change, Fannie Mae has announced that, starting from the weekend after November 18, 2023, it will accept 5% down payments for owner-occupied 2-, 3-, and 4-unit homes. Manually underwritten loans: The minimum required reserves are documented in the Eligibility Matrix . Chapter B3-2: Desktop Underwriter (DU) Chapter B3-3: Income Assessment. Lenders have difficulty using income from the growing number of gig economy workers* to. LTV. need to obtain the final 2018 year-to-date paystub to accurately calculate income. Q3. In some cases, the total payout through an annuity can exceed the amount received as a lump sum. 2-01, Underwriting Factors and Documentation for a. Stable and Predictable Income. 1 $1. Refer to the Variable Income section of B3-3. ) (-) $50,000. (DU®), Loan Delivery, and the Area Median Income Lookup Tool over the weekend of June 10, 2023, with an effective date of June 12, 2023. (Weekly gross pay x 52 pay periods) / 12 months. To be eligible as a HomeReady mortgage, the total annual qualifying income may not exceed 80% of the AMI for the property’s location. Funds needed to complete the. In this case, add the $200,000 and $700,000 together. Portfolio Manager, or Fannie Mae’s Single-Family Servicer Support Center at 1-800-2FANNIE (1-800-232-6643) with any questions regarding this Lender Letter. The servicer must determine the borrower's new modified mortgage loan terms in accordance with Determining the Fannie Mae Flex Modification Terms in D2-3. Guidance for documenting access to income and business liquidity If the Schedule K-1 reflects a documented, stable history of receiving cash distributions of income from the business consistent with the level of business income being used to qualify, then no further documentation of access to. For additional information, see B3-4. the business provides more than $12 billion of protected income payments. The DU validation service offers lenders an opportunity to deliver loans with more certainty. Social Security, VA, or other government retirement or annuity. Guide Resources. 1-09, Other Sources of Income, for boarder income requirements, and B5-6-02,. 1 $3. The lender must verify the borrower's income in accordance with Section B3–3. This type of annuity is designed to help individuals maintain their purchasing power over time, as the payments they receive will increase in response to rising prices. 12 CFR 30, Appendix A, and 12 CFR 160. the amount and duration of the borrower's “temporary leave income,” which may require multiple documents or sources depending on the type and duration of the leave period; and. Variable Annuity: In a variable annuity, the premium is. 50% Loan Term 180. The lender must verify the borrower's income in accordance with Section B3–3. It provides predictability and stability but requires careful consideration, given its long-term commitment and potential for higher initial payments. Freddie Mac HomeOne ℠. Prepare Necessary Documentation. a copy of signed federal income tax return, an IRS W-2 form, or. ) The remaining 25% of the gross rent will be absorbed by vacancy losses and ongoing. Social Security, VA, or other government retirement or annuity. Non-liquid assets do not have to be verified, and will not be identified in a verification message. Fannie Mae may revoke these limited permissions by written notice to any or all Fannie Mae-approved users. comFannie Mae gave current and former employees four options to reallocate their retirement funds — lump-sum distribution, an annuity, the Fannie Mae 401(k) plan or an individual retirement account. Multiply the amount of the monthly net income by 1. Tip Income Fannie Mae allows tip income to be included in qualifying income if the lender can verify that the borrower has received the income for the last two years. rental income. The lender must obtain. 1-09, Other. For more questions on this specific. When a component of the loan is validated by DU, the loan may. The borrower’s monthly gross income is defined as the borrower’s monthly income amount. Assets used for the calculation of the monthly income stream must be owned individually by the borrower, or the co-owner of the assets must be a co-borrower of the mortgage loan. 1 $2. Debt-to-Income Ratio 28. Learn more about calculating your DTI ratio. Guide Resources. Learn more about calculating your DTI ratio. For additional information, see B3-3. Total verified liquid assets: $30,000. Annuity Income. Components of Net Interest Income Net Worth of Fannie Mae Aggregate Indebtedness of Fannie Mae(11) Other Investments Portfolio ("OIP") N e t b I n t e r e s t I n c o m e (D o l l a r s i n b i l l i o n s) $9. Weekly. Home, 60 percent. What are the income eligibility requirements for HomeReady borrowers? Effective July 20, 2019, the income limit for all HomeReady loans is 80% of area median income (AMI) for the property’s location, including properties in low-income census tracts. Fannie Mae. See B3-3. HomeReady. The stable and reliable flow of income is a key consideration in mortgage loan underwriting. Net proceeds from a loan against the cash value or from the surrender of a life insurance policy are an acceptable source of funds for the down payment, closing costs, and reserves. Freddie Mac Home (opens in new window) Single-Family Division (opens in new window). Contact your account team or call 1-800-2FANNIE (1-800-232-6643)and press option 1 for technology support. foster-care income. the amount and duration of the borrower's “temporary leave income,” which may require multiple documents or sources depending on the type and duration of the leave period; and. For additional information, see FAQs: Using Income from Retirement and Employment-related Assets and B3-3. The borrower's monthly gross income is defined as the borrower's monthly income amount before any payroll deductions and includes the following items, as. Monthly Income (Sort ID 291) is to be delivered with the combined qualifying gross monthly income of all borrowers. The following table provides the requirements for employment-related assets that may be used as qualifying income. d. 1-09, Other Sources of Income in December 2020. It does not apply to disability income that is received from the Social Security Administration. an IRS 1099 form. Top Lender Questions on Federal Income Tax Returns, Installment Agreements, and Transcripts . When a transfer of ownership occurs for a mortgage loan, obtaining the mortgage insurer’s approval is either. D. They offer an alternative to traditional. 9 Billion for 2022 and $1. The Guaranteed Minimum Withdrawal Benefit (GMWB) is a feature of certain annuity contracts. . Certain components of the loan file – income, employment, and assets – are eligible for validation by DU using electronic verification reports obtained from vendors. . Income Assessment. 1-01, General Income Information,. Home Possible Income Limit – For the specific census tract, this is the maximum borrower income allowed to qualify for Home Possible. Temporary leave income: $2,000 per month. See B3-3. The DU validation service offers lenders an opportunity to deliver loans with more certainty. Home, 80 percent. An annuity due is a type of annuity that is commonly used in personal finance and investing. Fannie Mae has scheduled a conference call to discuss the company's results today at 8:00 a. Items required for a complete BRP : Form 710, or equivalent, that is completed in its entirety. The inter vivos revocable trust must be established by one or more natural persons, solely or jointly. These annuities provide investors with the opportunity to generate returns based on the performance of underlying investments, while also providing a guaranteed income stream during retirement. 9 Billion for 2022 and $1. This FAQ document provides responses to common questions related to Fannie Mae’s property eligibility and appraisal policies. When a loan casefile receives an Approve/Ineligible recommendation, the lender should: Review the DU loan data for accuracy and verify that all income, assets, and liabilities were accurately recorded and fully disclosed by the borrower. An example of a Fannie Mae loan An example of a Fannie Mae loan. You'll need proof of income, such as pay stubs or tax returns, proof of assets, credit history, and more. 1-01, General Income Information, for additional information. 1-09, Other Sources of Income. 16, 2020 The Selling Guide has been updated to include changes to the following: Single-width manufactured. / Retirement/ Gov't Annuity/ Pension Income; Browse. Lender must document 3–year continuance. $1. Down payment. Income from Other Sources have retirement income from two different sources, sum the amounts and list the total once on the form as “Retirement”). The statement must specify the income type, amount and frequency of the payment, and include confirmation of the initial start date. Launch Ask Poli for Sellers . Vested assets in the form of stocks, government bonds, and mutual funds are acceptable sources of funds for the down payment, closing costs, and reserves provided their value can be verified. 1, Employment and Other Sources of Income. an IRS 1099 form. There are five main types of pension annuities: fixed, variable, indexed, immediate, and deferred. Hourly. It is important to consider the tax implications of your annuity choices and consult with a tax. All of the above calculations must be compared with the documented year-to-date base earnings. 1-03, Base Pay (Salary or Hourly), Bonus, and Overtime Income. 2-06, Fannie Mae Flex. Fannie Mae customers! Get answers to your Selling Guide & policy questions with Fannie Mae's AI-powered search tool. one monthly statement (30 days of account activity) for all limited cash. The lender must verify the borrower's income in accordance with Section B3–3. Twice monthly gross pay x 2 pay periods. If the property has resale restrictions, see B 5-5. They can be an essential component of a retirement plan, helping to ensure financial. Chapter B3-2: Desktop Underwriter (DU) Chapter B3-3: Income Assessment. The total qualifying income that results may not exceed the borrower's regular employment income. Fannie Mae HomeView® can be used to satisfy the homeownership education. If any retirement income, such as employer pensions or 401(k) distributions, will cease within the first full three years of the mortgage loan, the income may only be considered as a compensating factor. Requirement. Cash Value of Life Insurance and Debt-to-Income Ratios. Total verified liquid assets: $30,000. This service is provided for the sole purpose of showing the applicable Area Median Income (AMI) for each applicable census tract. When consecutive credit documents are in the loan file, the most recent document is used. The lender or servicer must ensure that the insurer, policy, and coverage meet Fannie Mae's requirements. The lender must obtain. The December Selling Guide update expands eligibility to allow the sale of loans secured by single-width manufactured homes; updates requirements related to the use of retirement, government annuity, and pension income; modifies our seller/servicer eligibility standards related. For borrowers who have less than 25% ownership of a partnership, S corporation, or limited liability company (LLC), ordinary income, net rental real estate income, and other net rental income reported on IRS Form 1065 or IRS Form 1120S, Schedule K-1 may be used in qualifying the borrower provided the lender can. Tax returns are required if the borrower. Fannie Mae has scheduled a conference call to discuss the company's results at 8:00 a. Example. Employment-Related Assets as Qualifying Income. freddiemac. DU does not consider the amount of non-liquid assets. Base Pay (Salary or Hourly) Income. The lender must obtain. Note: Some of these asset types. 01. 7 $5. Points and Fees Limitations. Fannie Mae Short Sale . of this publication are granted to Fannie Mae-approved lenders, servicers, and other mortgage finance professionals, strictly for their own use in originating mortgages, selling mortgages to Fannie Mae, or servicing mortgages for Fannie Mae. If I have a question on how to document income, I Google. The borrower has the right to select the insurer of their choice to provide property insurance for the subject property, provided that the insurance meets Fannie Mae's requirements. 2-01, Underwriting Factors and Documentation for a Self-Employed Borrower. Verification of Income for Non-U. If income from a government annuity or a pension account will begin on or before the first payment date, document the income with a benefit statement from the organization providing the income. S. an IRS 1099 form. Depository Assets. Continuity of Income. What are the income eligibility requirements for HomeReady borrowers? Effective July 20, 2019, the income limit for all HomeReady loans is 80% of area median income (AMI) for the property’s location, including properties in low-income census tracts. Home, 60 percent. 32). An inflation -adjusted annuity is a financial product that provides a stream of income that increases with inflation. Insights, products, and technology to help you grow your business. GMWBs are designed to provide. Otherwise, evidence of the borrower’s actual receipt of funds realized from the sale or liquidation must be documented. Launch Ask Poli for Sellers . This topic contains general information for income, including: Stable and Predictable Income. Updated: 05/03/2023. “Freddie Mac and Fannie Mae have adopted a new refinance option for loans to borrowers with incomes at or below 100% of Area Median Income and you may be eligible to take advantage of this program. 1, Employment and Other Sources of Income. Variable Income. Why were the Fannie Mae Income Limits 2023 adjusted?Fannie Mae customers! Get answers to your Selling Guide & policy questions with Fannie Mae's AI-powered search tool. If income from a government annuity or pension account will begin on or before the first payment date, document the income with a benefit statement from the. (Biweekly gross pay x 26 pay periods) / 12 months. Continued on next page. If the income was derived from a pension or an annuity, no action is required; If the income is derived from an IRA distribution or any other eligible retirement income types that use depletion of an asset, the lender must. If the trust is established jointly, there may be more than one primary beneficiary as long as the income or assets of at least one of the individuals. For manually underwritten loans, Fannie Mae’s maximum total DTI ratio is 36% of the borrower’s stable monthly income. . Annually or for any specified period, the total Effective Gross IncomeEffective Gross IncomeOn an annual basis or any specified period, the total of Net Rental Income plus other income per Part II, Chapter 2: Valuation and Income, Section 202: Income Analysis and the applicable products and features in Part III. Lenders must verify this income and ensure it will continue for at least three years from the date of the mortgage application. Income property, 75 percent. Minus 10% of $500,000 ($500,000 x . Continuity of Income. Non-taxable income refers to earnings that are exempt from income taxes. Underwriting Borrowers. a copy of retirement award letter or benefit statement, a copy of financial or bank account statement, a copy of signed federal income tax return, an IRS W-2 form, or. Documentation for military income calculation for a VA loan may differ significantly. Choosing an annuity mortgage involves. Verification of Long-Term Disability Income. The lender must verify the borrower’s ownership of the account or asset. Our team is available seven days a week and are experts at. (Hourly gross pay x average # of hours worked per week x 52 weeks) / 12 months. 1-09, Other Sources of Income . financial markets. Note: Ask Poli is an Artificial Intelligence powered search tool. For more questions on this specific. A borrower applies for a $500,000 mortgage at their local bank to buy a home they have under contract to purchase for $550,000. 2 (d) for additional documentation that may be required based on employment characteristics. Sources "B3-3. When you purchase an annuity, you can choose from several payout. alimony, child support, or separate maintenance. S. citizens. Refer to Selling. PART B Origination thru Closing. If the property has resale restrictions, see B5-5. Debt -to-Income Ratio 30. If I have a question on how to document income, I Google “Fannie Mae requirement for…” or “Freddie Mac Doc Matrix”. 9 $2. The messages used to indicate if the loan casefile may be eligible towards Fannie Mae’s low-income purchase goal, very low-. and monthly income from annuities, insurance policies, retirement funds, pensions, disability or death benefits, rental income. If income from a government annuity or a pension account will begin on or before the first payment date, document the income with a benefit statement from the organization providing the income. Total verified liquid assets: $30,000. monthly income from annuities, insurance policies, retirement funds, pensions, disability or death benefits, rental income, and other income such as. Certain components of the loan file – income, employment, and assets – are eligible for validation by DU using electronic verification reports obtained from vendors. NOI. Refer to the applicable topics in Chapter B3-3, Income Assessment for additional information about specific tax return requirements. Calculating Income 23 Fannie Mae Selling Guide. The lender must verify the borrower's income in accordance with Section B3–3. Home, 80 percent. Lender must document 3–year continuance. Fixed Annuity: In a fixed annuity, the insurance company guarantees a fixed rate of return on the premium, and the annuitant receives regular payments of a fixed amount. comFannie Mae guidelines. Factors such as age, gender, health status, investment amount,. All income that is calculated by an averaging method must be reviewed to assess the borrower’s history of receipt, the frequency of payment, and the trending of the amount of income being received. The lender must verify employment income for all borrowers whose income is used to qualify for the mortgage loan. Fannie Mae Homestyle Loan . S. These payments can be made for a predetermined period or continue for the annuity holder's lifetime. 4 Billion for Fourth Quarter 2022. The new, user friendly Seller/Servicer Guide will make it significantly easier for you and your team to find, understand and share critical information. If income from a government annuity or a pension account will begin on or before the first payment date, document the income with a benefit statement from the organization. the lender must evaluate it according to Fannie Mae’s guidelines for income received from a partnership or an S corporation. (M SG ID 0 0 08). The lender or servicer must ensure that the insurer, policy, and coverage meet Fannie Mae's requirements. If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to Retirement, Government Annuity, and Pension Income . Citizen Borrowers. For more information, see B3-3. The lender must obtain. the borrower’s recent paystub and IRS W-2 forms covering the most recent two-year period. The following table provides verification requirements for notes receivable income. an IRS 1099 form. Fannie Mae. The servicer must determine the borrower's new modified mortgage loan terms in accordance with Determining the Fannie Mae Flex Modification Terms in D2-3. 0 0 Sales Price $265,0 0 0. one monthly statement (30 days of account activity) for all limited cash. See B3-3. , ET,. 1 The risk profile of this loan casefile appears to meet Fannie Mae's guidelines. a copy of signed federal income tax return, an IRS W-2 form, or.