Foreign Income in Mortgage Transactions - Unlocking Loan Solutions with Radian

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we delve into the intriguing topic of foreign income in mortgage transactions. We shed light on its definition, importance, and how it's addressed under the guidelines set by Government Sponsored Enterprises (GSEs) like Fannie Mae and Freddie Mac.What is foreign income in mortgage transactions?Recognizing foreign income on tax returnsFannie Mae and Freddie Mac's foreign income requirementsForeign income considerations for self-employed borrowersLanguage translation and currency conversionResources:Fannie Mae Selling Guide: B3-3.1-09, Other Sources of IncomeFreddie Mac Seller/Servicer Guide: 5305.1, Requirements for all other income (non-employment/non-self-employment)Google Currency ConverterOanda Currency ConverterSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.