LLC's and Fannie/Freddie cash out refi's

[Greg Jeanfreau]

Hey BPland,

I just heard on a podcast from a couple of months ago that Fannie has a new rule that individual properties held in an LLC must not only be put in the name(s) of the borrower(s) to close on the loan, but that for cash out refi's, there is now also a 6 month seasoning period that starts from when the property was transferred out of the LLC into the name of the borrower. Is this true and does it mean that we need to transfer into our personal names and THEN wait 6 months to close on a conventional loan?

Thanks!