Fannie Mae Selling Guide B3-3.4-11 — Notes Receivable Income

fnma-sel-b3-3-4-11

Fannie Mae Selling Guide B3-3.4-11 — Notes Receivable Income.

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Verbatim provisions from Fannie Mae Selling Guide B3-3.4-11 — Notes Receivable Income — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

Fannie Mae Selling Guide B3-3.4-11 — Notes Receivable Income

Effective 2026-03-04 · publisher's stamp for this provision

B3-3.4-11, Notes Receivable Income (03/04/2026) The following table provides requirements for notes receivable income. Criteria Requirements Documentation The lender must obtain: • a copy of the note to establish the amount and length of payment, and • receipt of income for the most recent 12 months using sources including but not limited to: ⚬ bank statements, ⚬ canceled checks, or ⚬ evidence of other electronic receipt of payments. Income History • A minimum 12- month history is required. • The payment history must demonstrate the stability of the income, as reflected in the receipt of full, regular, and timely payments. • Payments on a note executed within the past 12 months, regardless of the duration, may not be used as stable income. Income Continuance The lender must document that income is expected to continue for at least three years from the note date. Determination of Qualifying Income The monthly income amount as documented above may be used as qualifying income.

Source: Fannie Mae Selling Guide B3-3.4-11 — Notes Receivable Income · source URL · snapshot 2897f21e1e729b42

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Source of record: https://claudeforcompliance.com/regs/fnma-sel-b3-3-4-11/ · register fnma-sel-b3-3-4-11 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.