Fannie Mae Selling Guide B3-4.3-14 — Bridge/Swing Loans

fnma-sel-b3-4-3-14

Fannie Mae Selling Guide B3-4.3-14 — Bridge/Swing Loans.

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  authority: Fannie Mae Selling Guide B3-4.3-14 — Bridge/Swing Loans
  description: Fannie Mae Selling Guide B3-4.3-14 — Bridge/Swing Loans.
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      authority: Fannie Mae Selling Guide B3-4.3-14 — Bridge/Swing Loans
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      paragraph_quote: 'B3-4.3-14, Bridge/Swing Loans (04/01/2009) Introduction This topic contains information on bridge/swing loans. Bridge/Swing Loans Bridge/Swing Loans A bridge (or swing) loan is an acceptable source of funds provided the following requirements are met: The bridge loan cannot be cross-collateralized against the new property. The lender must document the borrower’s ability to successfully carry the payments for the new home, the current home, the bridge loan, and other obligations. Fannie Mae does not have a speciﬁed limitation on the term of bridge loans. See B3-6-05, Monthly Debt Obligations, for more information about how to treat the resulting contingent liability. Recent Related Announcements There are no recently issued Announcements related to this topic.'

Verbatim regulatory text (1)

Verbatim provisions from Fannie Mae Selling Guide B3-4.3-14 — Bridge/Swing Loans — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

Fannie Mae Selling Guide B3-4.3-14 — Bridge/Swing Loans

B3-4.3-14, Bridge/Swing Loans (04/01/2009) Introduction This topic contains information on bridge/swing loans. Bridge/Swing Loans Bridge/Swing Loans A bridge (or swing) loan is an acceptable source of funds provided the following requirements are met: The bridge loan cannot be cross-collateralized against the new property. The lender must document the borrower’s ability to successfully carry the payments for the new home, the current home, the bridge loan, and other obligations. Fannie Mae does not have a speciﬁed limitation on the term of bridge loans. See B3-6-05, Monthly Debt Obligations, for more information about how to treat the resulting contingent liability. Recent Related Announcements There are no recently issued Announcements related to this topic.

Source: Fannie Mae Selling Guide B3-4.3-14 — Bridge/Swing Loans · source URL · snapshot 5f7b8b79da595d76