Not for US mortgages, here is what my mortgage broker sent me as a requirement for the second home I am looking to buy:
OK – we can use the RSU’s with the following conditions:
Your borrower will need to have a 2-year history of liquidating the RSU account and evidence the RSUs are received as part of the borrower's regular income. Fannie Mae requires you obtain the issuance agreement, schedule of share distributions, vesting schedule, evidence the stock is publicly traded, and evidence of payout of the RSU per YTD paystub and W-2s for the most recent 2 years. Freddie Mac requires the same in addition to a 10-day PCV. The income will be required to continue for a minimum of 3 years.
If you can get me these items highlighted above, I will send to Underwriting for them to calculate the income and get us a valid number to use for qualifying.
OK – we can use the RSU’s with the following conditions:
Your borrower will need to have a 2-year history of liquidating the RSU account and evidence the RSUs are received as part of the borrower's regular income. Fannie Mae requires you obtain the issuance agreement, schedule of share distributions, vesting schedule, evidence the stock is publicly traded, and evidence of payout of the RSU per YTD paystub and W-2s for the most recent 2 years. Freddie Mac requires the same in addition to a 10-day PCV. The income will be required to continue for a minimum of 3 years.
If you can get me these items highlighted above, I will send to Underwriting for them to calculate the income and get us a valid number to use for qualifying.