Fannie Mae Selling Guide B3-4.3-21 — Borrower's Earned Real Estate Commission

fnma-sel-b3-4-3-21

Fannie Mae Selling Guide B3-4.3-21 — Borrower's Earned Real Estate Commission.

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Fannie Mae Selling Guide B3-4.3-21 — Borrower's Earned Real Estate Commission

Effective 2023-04-05 · publisher's stamp for this provision

B3-4.3-21, Borrower's Earned Real Estate Commission (04/05/2023) Introduction This topic contains information on the use of borrower's earned real estate commission as eligible funds for the subject transaction, including: Earned Real Estate Commission Documentation Requirements Earned Real Estate Commission Earned real estate commission refers to the borrower's portion of a real estate commission earned from the sale of the subject property being purchased when the borrower is acting as their own real estate agent. Lenders may use the borrower's earned real estate commission as an eligible source of funds for down payment and closing costs provided the borrower is a licensed real estate agent and will receive a sales commission from the purchase of the subject property. Documentation Requirements The lender must document the following: the settlement statement must reflect the commission earned by the borrower, and the earned commission amount must be credited towards the mortgage loan. Note: For DU loan casefiles, earned real estate commission must be entered as a Credit Type of "Other" in Section 2b of the online loan application.

Source: Fannie Mae Selling Guide B3-4.3-21 — Borrower's Earned Real Estate Commission · source URL · snapshot 2897f21e1e729b42

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Source of record: https://claudeforcompliance.com/regs/fnma-sel-b3-4-3-21/ · register fnma-sel-b3-4-3-21 · 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.