source:
  type: guide
  id: fnma-sel-b3-4.3-09
  authority: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit
  description: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-4.3-09-full
  canonical_id: fnma-sel-b3-4.3-09-full
  section: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-4.3-09 — Earnest Money Deposit
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'B3-4.3-09, Earnest Money Deposit (05/04/2022) Introduction This
      topic contains information on the earnest money deposit, including: Sales Contract
      Deposit Veriﬁcation of Source of Funds Documentation for Receipt of the Deposit
      Sales Contract Deposit The deposit on the sales contract (earnest money) for
      the purchase of the security property is an acceptable source of funds for both
      the down payment and the closing costs. See B3-4.1-04, Virtual Currency for
      additional information. Veriﬁcation of Source of Funds If the deposit is being
      used as part of the borrower’s minimum contribution requirement, the lender
      must verify that the funds are from an acceptable source. See B3-4.2-01, Veriﬁcation
      of Deposits and Assets. A Request for Veriﬁcation of Deposit (Form 1006) must
      indicate that the average balance for the past two months was large enough to
      support the amount of the deposit. Bank statements must evidence that the average
      balance for the past two months was large enough to support the amount of the
      deposit. If a copy of the canceled deposit check is used to document the source
      of funds, the bank statements must cover the period up to (and including) the
      date the check cleared the bank account. If it cannot be determined that these
      funds were withdrawn from the borrower’s account, additional veriﬁcation of
      the source and evidence that the funds have actually changed hands from the
      borrower to the seller, the real estate agent, the escrow agent, or the settlement
      attorney should be provided. Large earnest money deposits Published May 6, 2026
      435 and deposits that exceed the amount customary for the area should be closely
      evaluated. Documentation for Receipt of the Deposit Receipt of the deposit must
      be veriﬁed by either a copy of the borrower’s canceled check or a written statement
      from the holder of the deposit. Recent Related Announcements The table below
      provides references to recently issued Announcements that are related to this
      topic. Announcements Issue Date Announcement SEL-2022-04 May 04, 2022'
  judgment: false
