A Fannie Mae purchase applicant has total monthly qualifying income of $6,500 and a single $4,800 unsourced deposit needed for closing. Which rule applies?
Correct Answer
D) It exceeds the $3,250 large-deposit threshold and needs acceptable sourcing to be used
D. The $4,800 deposit exceeds the $3,250 threshold. $6,500 × 0.50 = $3,250; $4,800 is $1,550 above that comparison amount. Because the unsourced funds are needed for this purchase, an acceptable source must be established to use them. Scope and exceptions: This question concerns a wholly unsourced single deposit. For mixed deposits, the unsourced portion determines large-deposit treatment. Remaining undocumented funds require the prescribed asset reduction and sufficiency check; refinance treatment differs. Source: Evaluating Large Deposits — https://guide-selling.fanniemae.com/sel/b3-4.2-02/depository-accounts
Why This Is the Correct Answer
D. The $4,800 deposit exceeds the $3,250 threshold. $6,500 × 0.50 = $3,250; $4,800 is $1,550 above that comparison amount. Because the unsourced funds are needed for this purchase, an acceptable source must be established to use them. Scope and exceptions: This question concerns a wholly unsourced single deposit. For mixed deposits, the unsourced portion determines large-deposit treatment. Remaining undocumented funds require the prescribed asset reduction and sufficiency check; refinance treatment differs.
Why the Other Options Are Wrong
Option A: It is below total monthly income, so it cannot be a large deposit
The comparison is half of qualifying monthly income, not all of it.
Option B: Its arrival nine days before application makes it automatically seasoned
Nine days does not create an automatic sourcing exemption.
Option C: It is below a universal $5,000 threshold, so no evaluation is required
There is no universal $5,000 threshold in this rule.
Exam Tip
Calculate the threshold, identify the unsourced portion, then assess whether the funds are needed.
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