General World News

Fannie Mae Selling Guide update prohibits family members’ job offers in transactions

The newly-updated Fannie Mae November Selling Guide now bars job offers or contracts for future employment from family members or interested parties involved in a transaction.

“We revised our policy to make it clear that when a borrower is scheduled to begin new employment under the terms of an employment offer or contract, the offer or contract cannot be for employment by a family member or interested party to the transaction,” the Selling Guide update explained. “This requirement applies regardless of whether a paystub is obtained prior to loan delivery.”

The update also includes details ⇒

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