source:
  type: guide
  id: fnma-sel-b3-3.4-13
  authority: Fannie Mae Selling Guide B3-3.4-13 — Royalty Payment Income
  description: Fannie Mae Selling Guide B3-3.4-13 — Royalty Payment Income.
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-3.4-13-full
  canonical_id: fnma-sel-b3-3.4-13-full
  section: Fannie Mae Selling Guide B3-3.4-13 — Royalty Payment Income
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide B3-3.4-13 — Royalty Payment Income
    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: 'B3-3.4-13, Royalty Payment Income (03/04/2026) The following
      table provides requirements for royalty income. Criteria Requirements Documentation
      The lender must obtain evidence of the income amount using: • a royalty contract,
      agreement, or statement conﬁrming amount, frequency, and duration of the income;
      and • the borrower’s most recent signed federal income tax return, including
      the related IRS Form 1040, Schedule E. Note: If royalty income is not reported
      on the most recent federal income tax return, the current receipt of income
      for the most recent 12 months must be documented using sources including, but
      not limited to: • bank statements, • canceled checks, or • evidence of other
      electronic receipt of payments. Income History A minimum 12-month history is
      required. Income Continuance The lender must document that income is expected
      to continue for at least three years from the note date. Determination of Qualifying
      Income The monthly income amount as documented above may be used as qualifying
      income. Recent Related Announcements The table below provides references to
      recently issued Announcements related to this topic. Published May 6, 2026 352
      Announcements Issue Date Announcement SEL-2026-02 March 04, 2026'
  judgment: false
