Does Fannie Mae Require Medical Collections To Be Paid

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B3-6-07, Debts Paid Off At or Prior to Closing …

https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B3-Underwriting-Borrowers/Chapter-B3-6-Liability-Assessment/1032994251/B3-6-07-Debts-Paid-Off-At-or-Prior-to-Closing-01-30-2018.htm

Collection accounts and charge-offs on non-mortgage accounts that exceed these limits do not have to be paid off at or prior to closing, provided the lender can document a strong credit profile, and meaningful financial reserves. For DU underwritten …

Are collection accounts and non-mortgage charge-offs …

https://selling-guide.fanniemae.com/Top-Trending-Jun-19/1087520231/Are-collection-accounts-and-non-mortgage-charge-offs-required-to-be-paid-off.htm

For manually underwritten loans, collection accounts and charge-offs on non-mortgage accounts do not have to be paid off at or prior to closing if the balance of an …

B3-5.4-03, Documentation and Assessment of a

https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B3-Underwriting-Borrowers/Chapter-B3-5-Credit-Assessment/Section-B3-5-4-Nontraditional-Credit-History/1032991091/B3-5-4-03-Documentation-and-Assessment-of-a-Nontraditional-Credit-History-08-30-2016.htm

No collections (other than medical collections) or judgments have been filed in the past 24 months. Judgments, liens, collections, and charge-offs of non …

B3-5.3-09, DU Credit Report Analysis (12/04/2019)

https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B3-Underwriting-Borrowers/Chapter-B3-5-Credit-Assessment/Section-B3-5-3-Traditional-Credit-History/1032994361/B3-5-3-09-DU-Credit-Report-Analysis-12-04-2019.htm

Per the requirements of B3-5.3-07, Significant Derogatory Credit Events — Waiting Periods and Re-establishing Credit, an amount of time must elapse (the “waiting …

FAQs: Monthly Debt Obligations (Feb. 2023) - Fannie Mae

https://selling-guide.fanniemae.com/Underwriting-Borrowers/Liability-Assessment/Monthly-Debt-Obligations/2287443801/FAQs-Monthly-Debt-Obligations.htm

A borrower's monthly debt obligations must be considered when underwriting a loan. To support our customers in understanding requirements for the various types of …

When a collection account is not required to be paid off …

https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B3-Underwriting-Borrowers/Chapter-B3-6-Liability-Assessment/1659558741/When-a-collection-account-is-not-required-to-be-paid-off-does-a-payment-need-to-be-included-in-the-DTI-ratio.htm

If a collection or non-mortgage charge-off account is not required to be paid-off at or prior to closing and there is no recurring monthly payment, then the lender is not …

B3-6-05, Monthly Debt Obligations (05/04/2022) - Fannie …

https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B3-Underwriting-Borrowers/Chapter-B3-6-Liability-Assessment/1032996291/B3-6-05-Monthly-Debt-Obligations-02-05-2020.htm?touchpoint=Guide

When the borrower is required to pay alimony, child support, or separate maintenance payments under a divorce decree, separation agreement, or any other …

$10,000 Medical Collection: Can I Qualify For A Mortgage?

https://themortgagereports.com/30288/10000-medical-collection-can-i-qualify-for-a-mortgage

Do You Have To Pay off Your Collection? Fannie Mae’s latest version of Desktop Underwriter (DU) ignores medical collections, and does not require you to …

How Are Medical Collections During …

https://gustancho.com/medical-collections/

Non-Medical Versus Medical Collections Medical collections are treated more favorably and differently per 2021 mortgage lending guidelines than non …

Fannie Mae Collection Guidelines on Conventional …

https://gustancho.com/fannie-mae-collection-guidelines/

Fannie Mae Collection Guidelines on Second Homes require any collections and charge-off accounts greater than $5,000 to be paid at and before …

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