Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit

fnma-sel-b3-4-3-09

Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit.

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source:
  type: guide
  id: fnma-sel-b3-4.3-09
  authority: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit
  description: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit.
  coverage_tier: operative
obligations:
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    section: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit
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    tags:
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      - selling-guide
      - corpus-expansion
      - tier-operative
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      authority: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit
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      fetched_at: '2026-05-25T14:09:57Z'
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      paragraph_quote: 'B3-4.3-09, Earnest Money Deposit (05/04/2022) Introduction This topic contains information on the earnest money deposit, including: Sales Contract Deposit Veriﬁcation of Source of Funds Documentation for Receipt of the Deposit Sales Contract Deposit The deposit on the sales contract (earnest money) for the purchase of the security property is an acceptable source of funds for both the down payment and the closing costs. See B3-4.1-04, Virtual Currency for additional information. Veriﬁcation of Source of Funds If the deposit is being used as part of the borrower’s minimum contribution requirement, the lender must verify that the funds are from an acceptable source. See B3-4.2-01, Veriﬁcation of Deposits and Assets. A Request for Veriﬁcation of Deposit (Form 1006) must indicate that the average balance for the past two months was large enough to support the amount of the deposit. Bank statements must evidence that the average balance for the past two months was large enough to support the amount of the deposit. If a copy of the canceled deposit check is used to document the source of funds, the bank statements must cover the period up to (and including) the date the check cleared the bank account. If it cannot be determined that these funds were withdrawn from the borrower’s account, additional veriﬁcation of the source and evidence that the funds have actually changed hands from the borrower to the seller, the real estate agent, the escrow agent, or the settlement attorney should be provided. Large earnest money deposits Published May 6, 2026 435 and deposits that exceed the amount customary for the area should be closely evaluated. Documentation for Receipt of the Deposit Receipt of the deposit must be veriﬁed by either a copy of the borrower’s canceled check or a written statement from the holder of the deposit. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Announcements Issue Date Announcement SEL-2022-04 May 04, 2022'

Verbatim regulatory text (1)

Verbatim provisions from Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit — 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 B3-4.3-09 — Earnest Money Deposit

B3-4.3-09, Earnest Money Deposit (05/04/2022) Introduction This topic contains information on the earnest money deposit, including: Sales Contract Deposit Veriﬁcation of Source of Funds Documentation for Receipt of the Deposit Sales Contract Deposit The deposit on the sales contract (earnest money) for the purchase of the security property is an acceptable source of funds for both the down payment and the closing costs. See B3-4.1-04, Virtual Currency for additional information. Veriﬁcation of Source of Funds If the deposit is being used as part of the borrower’s minimum contribution requirement, the lender must verify that the funds are from an acceptable source. See B3-4.2-01, Veriﬁcation of Deposits and Assets. A Request for Veriﬁcation of Deposit (Form 1006) must indicate that the average balance for the past two months was large enough to support the amount of the deposit. Bank statements must evidence that the average balance for the past two months was large enough to support the amount of the deposit. If a copy of the canceled deposit check is used to document the source of funds, the bank statements must cover the period up to (and including) the date the check cleared the bank account. If it cannot be determined that these funds were withdrawn from the borrower’s account, additional veriﬁcation of the source and evidence that the funds have actually changed hands from the borrower to the seller, the real estate agent, the escrow agent, or the settlement attorney should be provided. Large earnest money deposits Published May 6, 2026 435 and deposits that exceed the amount customary for the area should be closely evaluated. Documentation for Receipt of the Deposit Receipt of the deposit must be veriﬁed by either a copy of the borrower’s canceled check or a written statement from the holder of the deposit. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Announcements Issue Date Announcement SEL-2022-04 May 04, 2022

Source: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit · source URL · snapshot 5f7b8b79da595d76