MPF Announcement 2024-35

MPF Traditional – Income Policy Updates

Effective Date: Immediately (unless otherwise noted within)

The following updates have been made to the MPF Traditional Selling Guide:

•  Added requirements when considering restricted stock units and restricted stock as eligible income.
• Updated the nontaxable income policy, by allowing PFIs to gross-up certain nontaxable income without providing additional documentation.
  

For additional information see MPF Traditional Selling Guide Sections 5.3.1.6 Using Nontaxable Income to Adjust the Borrower’s Gross Income and 5.3.9.19 Restricted Stock Units and Restricted Stock Employment Income.