Yes. Lenders may consider stocks as reserves in accordance with the requirements outlined in B3-4.3-01, Stocks, Stock Options, Bonds, and Mutual Funds. Lenders must also apply the temporary policies for market-based assets outlined in Lender Letter LL-2020-03.
Can lenders use retirement assets for down payment and closing costs during the pandemic?
Yes. Lenders may consider a borrower’s retirement accounts for down payment and closing costs in accordance with the Selling Guide, B3-4.3-03,...Read more