Proceeds from the sale of personal assets are an acceptable source of funds for the down payment, closing costs, and reserves. The last sales contract you sent included a lengthy list of personal items from the Seller's "Custom Man Cave" to be included in the deal.(i) If Fannie Mae requires Seller to repurchase the Mortgage Loan, Servicer may, in its sole discretion, require Seller to repurchase the Servicing Rights. When applicants enter into a contract to purchase a new dwelling, the Loan Approval Official must consider how the construction quality will be documented. • New York: The property is located in one of the 5 boroughs of New York City: Bronx,. - Brooklyn (Kings county),. – Purchase or Limited Cash-Out Refi. Fannie Mae and Freddie Mac nearly collapsed amid the 2008 financial crisis but were bailed out and placed into government conservatorship. What Fannie Mae Does.
