Fannie Mae has amended its guidelines on how mortgage lenders verify large deposits to borrowers’ bank deposits, which analysts tell The Real Deal will speed up the process in clearing loans. The new rule now requires borrowers to provide documentation for the source of bank deposits larger than 25 percent of their total monthly income. Previously, lenders required borrowers to source deposits of any amount. The change, announced by Fannie Mae on Nov. 13, is [more]![]()
↧