New Fannie Mae Guidelines Allow Verification of Assets in Lieu of Income
 Late Friday Fannie Mae gave borrowers and lenders an alternative to documenting income for Refi Plus loans where payment increases will be under 20 percent.  Rather than requiring that at least one of the borrowers has a documented source of income, Fannie Mae will now accept verification of liquid financial reserves equal to at least 12 months of the new mortgage payment (PITIA).  Documentation can be through one or more recent statement of liquid reserves in bank accounts, money markets, stock accounts, retirement savings accounts, or certificates of deposit.  Fannie Mae is also providing streamlined documentation requirements for other underwriting criteria for these loans.

New Fannie Mae Guidelines Allow Verification of Assets in Lieu of Income
And there it is..Got any collateral..Bitchez.