Fannie clears up confusion on student loan debt by issuing guidance that states, “If a student loan is in deferment or forbearance and the credit report is not showing a payment or is showing as $0, the lender must calculate a payment using 1% of outstanding loan balance(s) or use a fully amortizing payment using documented loan repayment terms.”

Rule Synopsis: [tweet-start]Fannie Mae issues an update on student loan debt. Contact me directly for the updated requirements.[tweet-end] Fannie Mae issued an FAQs update to their student loan and debts paid by others document. The FAQs document contains 16 questions in total, up from 14 when originally released. Interpretive Comments In this update, we are […]

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