Mortgagee Letter Release Date: February 28, 2012 FHA Updates Guides for: Self-Employment, Credit, and Definition of Family Member Mortgagee Letter 2012-03 announces changes to guides that affect P&Ls for self-employed borrowers, disputed credit and collection accounts, as well as an expanded definition of a family member. Here’s what you NEED to know: 1. All changes are effective April 1, 2012. 2. For self-employed borrowers, P&L statements are now required if the last business tax return is

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