Hey all,
Does anyone know if Freddie Mac has separate guidelines for SE borrowers, vs contract workers? They are the same, correct?? Any advice is greatly appreciated, thanks!
Fifth Third Bank - Cincinnati, OH
an experienced mortgage professional NMLS #457556
Hi there Jacob,
Follow the SE guidelines for 1099 employees. They should file a schedule C also. depending on the line of work and findings report about whether a Profit-and-loss will be applicable.
Have you gotten your LP findings run on it yet?
Apr 29, 2008 03:35 PM
AMERICAN CASH SOLUTIONS INC - Melville, NY
I don't know if Homecomings a GMAC baby is still in business but their assetwise site had great freddie and fannie guideline breakdowns. Contract workers is interesting. I had steelworkers that worked different jobs but were union employees and made 6 figure incomes over 2 year average but still qualified for full doc cause fannie knew that was the nature of their business and fannie knew they wer making mad chedda. Respect.
May 05, 2008 08:18 AM
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