Fannie Mae Selling Guide B3-3.4-17 — Unemployment Benefits Income

Fannie Mae Selling Guide B3-3.4-17 — Unemployment Benefits Income

B3-3.4-17, Unemployment Benefits Income (03/04/2026) Income from unemployment benefits can be considered when qualifying the borrower in the following scenarios: The income has been consistently received for at least two years as verified by copies of the singed federal income tax returns that reflect unemployment income is associated with seasonal employment. See B3-3.3-08, Seasonal Income for additional information. The income from unemployment benefits can be used in the calculation of financial resources that are required under Option 2 in B3-3.3-03, Employment Offers or Contracts. The income from unemployment benefits may be used in qualifying a borrower for a high LTV refinance loan. See B5-7-03, High LTV Refinance Alternative Qualification Path. The table below provides requirements for unemployment benefits income. Criteria Requirements Documentation The lender must obtain two years of signed personal federal income tax returns. Income History A minimum two-year history is required. Income Continuance The lender is not required to verify continuance unless they have reason to believe the income may not continue. Determination of Qualifying Income Average Income: Depending on the historical trend of the income, the lender must calculate qualifying income as follows: • Stable or Increasing: Calculate an average income amount using the most recent two years personal federal income tax returns. • Decreasing: Calculate an average income amount using the most recent year personal federal income tax returns. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Published May 6, 2026 359 Announcements Issue Date Announcement SEL-2026-02 March 04, 2026

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