source:
  type: guide
  id: fnma-sel-b3-4.4-02
  authority: Fannie Mae Selling Guide B3-4.4-02 — Requirements for Certain Assets
    in DU
  description: Fannie Mae Selling Guide B3-4.4-02 — Requirements for Certain Assets
    in DU.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-4.4-02-full
  canonical_id: fnma-sel-b3-4.4-02-full
  section: Fannie Mae Selling Guide B3-4.4-02 — Requirements for Certain Assets in
    DU
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-4.4-02 — Requirements for Certain Assets
      in DU
    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: 'B3-4.4-02, Requirements for Certain Assets in DU (06/01/2022)
      Introduction This topic contains information about certain asset policies in
      DU, including: Asset Veriﬁcation Documentation Depository Assets Bridge Loan
      Cash Deposit on Sales Contract (Earnest Money) Gifts and Grants Gifts of Equity
      Net Equity from Properties Pending Sale Proceeds from Sold Properties Other
      Liquid Assets Secured Borrowed Funds Asset Veriﬁcation Documentation When DU
      requires assets to be veriﬁed, DU will indicate the minimum veriﬁcation documentation
      requirements necessary for the lender to process the loan application. This
      level of documentation may not be adequate for every borrower and every situation.
      The lender must determine whether additional documentation is warranted. DU
      will not require documentation of assets for reﬁnance transactions when the
      total funds to be veriﬁed are $500 or less. Depository Assets For depository
      assets (checking and savings accounts, money market funds, and certiﬁcates of
      deposit), DU will require the following: two consecutive monthly bank statements
      (60 days of account activity) for all purchase transactions, or Published May
      6, 2026 450 one monthly statement (30 days of account activity) for all limited
      cash-out and cash-out reﬁnance transactions. Monthly bank statements must be
      dated within 45 days of the initial loan application date. Quarterly bank statements
      must be dated within 90 days of the initial loan application date, and the lender
      must conﬁrm that the funds in the account have not been transferred to another
      asset account that is veriﬁed with more current documentation. A Veriﬁcation
      of Deposit (Form 1006) can be obtained in place of bank statements. When DU
      validates assets, DU issues a message indicating the acceptable documentation.
      Compliance with the DU message satisﬁes the requirement for documenting assets.
      This documentation may diﬀer from the requirements described above. See B3-2-02,
      DU Validation Service. Bridge Loan Enter the amount of a bridge (or swing) loan
      in the asset section 2a of the loan application. Do not include the amount of
      the bridge loan in any other liquid asset. (For example, do not enter the amount
      of the loan both as a bridge loan and in a checking account, even if the loan
      funds have been deposited.) Bridge loans should also be considered in the net
      equity calculation for properties that are pending sale. (In other words, the
      amount of the bridge loan should be subtracted from the net proceeds to avoid
      counting this asset twice.) See B3-4.3-14, Bridge/Swing Loans for additional
      information. Note: It may also be necessary to enter the bridge loan and corresponding
      monthly payment as a recurring liability in the liabilities section of the loan
      application. See the bridge loan liability discussion in B3-6-05, Monthly Debt
      Obligations. Cash Deposit on Sales Contract (Earnest Money) Earnest money is
      entered in Section 2b in the loan application. It is treated as a credit to
      the transaction and will reduce the borrower’s required funds to close as reﬂected
      in Section L4. The earnest money check is assumed to have cleared the borrower’s
      bank account and must not be reﬂected in the balance of an asset account. See
      B3-4.3-09, Earnest Money Deposit, for documentation requirements. Gifts and
      Grants Gifts or donations from entities (grants) are permitted and documented
      in accordance with B3-4.3-04, Personal Gifts, and B3-4.3-06, Grants and Lender
      Contributions. Gifts and grants are entered in Section 4d of the loan application
      and identiﬁed as being deposited or not deposited. Gifts and grants that are
      deposited have been received by the borrower and the value should be included
      in another asset account. The amount of the gift or grant is not included in
      available funds. Published May 6, 2026 451 Gifts and grants that are not deposited
      are not included in another asset account. The amount of the gift is included
      in available funds. Gifts of Equity Enter a gift of equity in Section 4d of
      the loan application. A gift of equity must meet the gift of equity requirements
      deﬁned in B3-4.3-05, Gifts of Equity. Net Equity from Properties Pending Sale
      See B3-4.3-10, Anticipated Sales Proceeds, for additional information. The lender
      must calculate the net equity outside of DU for a property marked Pending Sale
      in Section 3 of the loan application. The amount is entered in the asset section
      (2b) using the asset type Proceeds from Real Estate Property to be Sold on or
      Before Closing. If a bridge loan is obtained, the amount of the bridge loan
      is entered as an asset and must be subtracted from net equity before entry in
      the loan application. When the net equity is positive, DU will add the amount
      to the funds available for closing. When the net equity is negative, DU will
      subtract the amount from the funds available for closing. Proceeds from Sold
      Properties Proceeds from properties that have already been sold must be included
      in a depository account, such as a checking or savings account. Other Liquid
      Assets Enter the value of personal assets that will be converted to a liquid
      asset (or sold) prior to closing in Section 2b using the asset type Proceeds
      from Sale of Non-Real Estate Asset. (See B3-4.3-18, Sale of Personal Assets,
      for additional information.) Life insurance that will be used for the transaction
      is entered in Section 2a using the account type Cash Value of Life Insurance.
      An Other Asset (liquid) may be entered for other types of assets that will be
      used for the transaction, such as pending tax refunds that will be received
      prior to closing. A veriﬁcation message will require evidence of the value of
      the asset and conﬁrmation that the asset was converted to cash. Secured Borrowed
      Funds Borrowers can borrow against an asset they own, such as a 401(k) account
      or real estate, according to the requirements of B3-6-05, Monthly Debt Obligations.
      The amount of the secured loan should be entered in Section 2b using the asset
      type Secured Borrowed Funds. The secured loan amount should be subtracted from
      Published May 6, 2026 452 the market value of the actual asset, and the net
      asset value should be entered. For example, if the borrower has a vested value,
      less taxes and penalties, of $30,000 in a 401(k) account and borrows $10,000
      against the 401(k), enter $10,000 as secured borrowed funds and enter $20,000
      as retirement funds. A loan that is secured against a liquid asset owned by
      the borrower (such as a 401(k) or mutual fund) does not have to be entered as
      a liability in the loan application if the appropriate documentation is provided.
      Loans that are secured against real estate, or any other non-liquid asset, must
      be entered as the applicable liability (for example, as a mortgage). Recent
      Related Announcements The table below provides references to recently issued
      Announcements that are related to this topic. Announcements Issue Date Announcement
      SEL-2022-05 June 01, 2022 Announcement SEL-2022-01 February 02, 2022 Announcement
      SEL-2021-06 July 07, 2021 Announcement SEL-2020-07 December 16, 2020 Chapter
      B3-5, Credit Assessment Introduction This chapter describes credit assessment
      for qualifying, underwriting, and documentation purposes. Section B3-5.1, Credit
      Scores'
  judgment: false
