Fannie 4.0s spent most of the morning just barely in negative
territory and most of the afternoon in the green. All of the above was
contained inside an eighth of a point of movement, for the most part (technically it was a 5/32nds range, but only for a moment or two).
fared slightly worse, but not much, holding near 1bp higher from
Tuesday at 2.9924 into the afternoon. There were no detectable reasons
to trade in either direction and no detectable traders to do so in the
first place. This holiday paralysis should continue tomorrow.
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Live Chat Featured Comments
Andy Pada : "either way, this is amazing stuff. Thank you both JPM and Ira!"
Ira Selwin : "AP - this is a better link - https://www.fanniemae.com/content/guide/sel102213.pdf page 353"
Andy Pada : "let me clarify, "used assets as income exclusively"
Clay Schmeisser : "60% is used if using for assets... if using for income purposes you would you calculate on entire amount BB and JP"
Brent Borcherding : "Quick Question: If a borrower is using a withdrawal plan from their IRA as income for qualifying purposes...when calculating the 3 year's continuance, do you need to take 60% of the balance in the IRA account? Borrower is 69 years old."
Sung Kim : "unfortunately most investors wont allow and most u/w would have not clue how to cacl"
Ira Selwin : "70% of the amount divided by the amort of the loan I think?"
John Paul Mulchay : "Using work related assets as income to qualify. "
John Paul Mulchay : "Andy, FNMA offer asset dissipation conforming loan..."
Jeff Anderson : "Gm, all. When does the common sense part kick in? I thought we were still in the let's over regulate the industry for things that haven't happened in 6 plus years mode."
Andy Pada : "I agree that it is a good loan. I am just saying that the regulatory environment makes it unlikely to occur."
Ray Leone : "SIVA for self-employed. 760 Fico; 6 Months PITI reserves; 75% LTV. You know, when there was a thing called common sense lending."