Tag: Authorized User

FHA – Authorized Used Obligation: Am I required to count debt if my applicant is an authorized user but is not responsible for the payment of the account?

Answer: FHA requires that payments made by the primary account holder be documented for the last 12 months to disregard the monthly debt.  A credit supplement should not be necessary. Reference: 4000.1, II, A, 4, b, iv, (A) Accounts for which the Borrower is an authorized user must be included in a Borrower’s DTI ratio […]

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Freddie Mac – Multiple Selling Guide Updates – Bulletin 2018-15 – Dated September 19, 2018 [NEW Checklist – Conventional Property Conditions]

Written By: Lloyd Rutherford, Staff Writer Freddie Mac is making some game-changer updates that should help you close more loans.  Read through this update and revisit any clients that may not have qualified, but now do! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on […]

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