Question about using rents as income

[Ben Russell]

We're a property management company and a new client wanted to rent her current home and buy a new home. She did not qualify for the new loan without using the rent of the old house as income.   Lender told her to get a signed lease. 

We found a tenant, signed a lease and collected the security deposit with a July 15 move in date.  Pro-rated first month's rent would be due at move in.  The loan was set to close the end of June.

The lender is now saying that due to "new" Frannie/Freddie guidelines, we have to collect the first month's rent before the loan can close.  A lease is no longer adequate. Is this accurate?

Thanks

[Robin Simon]

Definitely a focus area from lenders, conventional or otherwise - theres been a reported uptick in occupancy fraud or funny business lately as rates and values have continued to be so high and qualifying so tough - people are more likely to bend the rules on stuff like this - so this is generally the lender response