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Volume 17 - Number 5

March 10, 2017

Freddie Changes Impact Self-Employed and 401(k) Reporting

Freddie Mac implemented a few underwriting changes that went into effect this week regarding a borrower’s self-employment status, retirement accounts and commission income. The GSE announced that the documentation required for self-employed borrowers will be revised based on the number of years the borrower has been self-employed and the business has been in existence. Borrowers self-employed for less than five years will face greater scrutiny under the new requirement. Borrowers who are self-employed and have had a business operation for at least five years will require one year of personal and business returns. But those who have been self-employed with business in operation for less...

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What’s your opinion on how Mick Mulvaney has managed the CFPB since he took over three months ago?

He’s done a good job of paring back the agency’s excesses and we’d like to see more.


I hope he totally dismantles the agency and sends those functions back to the agencies hence they came.


Not bad, but he needs to take his time making additional changes.


We’re totally aghast. He’s gone way too far in protecting the rights of companies not consumers!