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.

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Join us in this episode as we delve into the topic of Foster Care Income. We'll explore how the GSEs, Fannie Mae and Freddie Mac, treat this income type, discuss guidelines around the history of income receipt, and review general documentation requirements. We'll also provide a couple of scenarios to aid your understanding of the use of this income.

In this episode we will discuss:

• What is Foster Care Income and how it is treated by the GSEs
• Guidelines around the history of receipt
• General documentation requirements
• Scenarios to better understand the use of Foster Care Income

Resources

• Fannie Mae Selling Guide: B3-3.1-01, General Income Information (12/13/2023)
• Fannie Mae Selling Guide: B3-3.1-09, Other Sources of Income (02/07/2024)
• Fannie Mae Selling Guide: What is required for foster-care income?
• Freddie Mac Seller/Servicer Guide: 5301.1, General requirements for all stable monthly income
• Freddie Mac Seller/Servicer Guide: 5305.2, Specific requirements for other income types

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