Freddie Mac issued Guide Bulletin 2016-19 revising Freddie Mac’s income qualification requirements and guidance. The revisions provide additional requirements and guidance on matters that impact the analysis of stable monthly income, such as: industry employment trends (e.g., employment characteristics); determination of stability and calculation of fluctuating earnings; and self-employment. Chapters 5301, 5302, 5303, 5304, 5305 and 5307 of the Single-Family Seller/Servicer Guide have been updated to reflect the revisions. The revisions apply to mortgages with settlement dates on or after March 6, 2017.
