Selling Guide

Published June 3, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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B3-3.1-04, Commission Income (12/04/2018)


This topic contains information on the verification of commission income.


Verification of Commission Income

The following table provides verification requirements for commission income.

Verification of Commission Income
  A minimum history of 2 years of commission income is recommended; however, commission income that has been received for 12 to 24 months may be considered as acceptable income, as long as there are positive factors to reasonably offset the shorter income history.
  One of the following must be obtained to document commission income:
  • a completed Request for Verification of Employment (Form 1005 or Form 1005(S)), or

  • the borrower’s recent paystub and IRS W-2 forms covering the most recent two-year period.

  A verbal VOE is required from each employer. See B3-3.1-07, Verbal Verification of Employment, for specific requirements.
  See B3-3.1-01, General Income Information, for additional information about calculating variable income.
  See B3-3.1-02, Standards for Employment Documentation, for additional information about verifying employment income.

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