TIP OF THE DAY- FANNIE MAE UNION WORKER INCOME

TIP OF THE DAY- FANNIE MAE UNION WORKER INCOME

 

We are clarifying the policies related to employment verification to address borrowers who work in occupations that result

in a series of short-term job assignments (such as a skilled construction worker, longshoreman, or stagehand), where a union facilitates the borrower’s placement in each assignment.

 

In these cases, the Selling Guide now permits this type of union to provide:

  • the verbal verification of employment for a union member who is currently employed, and

  • an executed employment offer or contract for future employment for a union member who is not scheduled to

an closes. All other existing requirements for employment offers or contracts

described in B3-3.1-09, Other Sources of Income, apply.

justin brown