Fannie Mae Selling Guide B3-4.3-02 — Trust Accounts
Fannie Mae Selling Guide B3-4.3-02 — Trust Accounts.
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Verbatim provisions from Fannie Mae Selling Guide B3-4.3-02 — Trust Accounts — 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 B3-4.3-02 — Trust Accounts
B3-4.3-02, Trust Accounts (04/01/2009) Introduction This topic contains information on trust accounts. Trust Accounts Trust Accounts Funds disbursed from a borrower’s trust account are an acceptable source for the down payment, closing costs, and reserves provided the borrower has immediate access to the funds. To document trust account funds, the lender must: obtain written documentation of the value of the trust account from either the trust manager or the trustee, and document the conditions under which the borrower has access to the funds and the effect, if any, that the withdrawal of funds will have on trust income used in qualifying the borrower for the mortgage.
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Source of record: https://claudeforcompliance.com/regs/fnma-sel-b3-4-3-02/
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