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I couldn't find a link directly to Fannie Mae's guidelines--their site is like the Library of Congress--but a lender's guidelines reiterated Fannie's guidelines as follows:

Asset distribution of all post closing liquid and retirement assets are acceptable for borrowers of retirement age or with retirement-like situations, i.e. sale of company, etc.

~ Annuitization (depletion of assets) is calculated using a 3% return over the life of the loan. Use of this income calculation supersedes use of existing retirement distributions (exclusive of pension distributions) if those assets are considered in the calculation.
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