Tag: Mortgage Debt

USDA – Updates to Chapter 10 and Chapter 11

Written by: David Hail, Staff Writer USDA lenders, this is a massive update so heads up.  Our expert breaks down the “New”, “Clarifications” and “Reminders” announced by the agency. Rule Synopsis: The great news is that the revisions to Chapter 10 “Credit Analysis” and Chapter 11 “Ratio Analysis” USDA Rural Development announced were coming in […]

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USDA – Major Revisions to Chapter 11 – Ratio Analysis

Written by: David Hail, Staff Writer The revisions to technical handbook HB-1-3555 Chapter 11, Ratio Analysis, are significant and require your full attention if you are originating these types of loans. Rule Synopsis: USDA Rural Development announced on January 29, 2020 that they will soon publish a revision to technical handbook HB-1-3555 Chapter 11, Ratio […]

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Fannie Mae & Freddie Mac – Co-Signer Obligation – Can I exclude a co-signed mortgage obligation?

Answer: Only if you meet the following conditions. Reference: B3-6-05, Monthly Debt Obligations (01/30/2018) Debts Paid by Others Certain debts can be excluded from the borrower’s recurring monthly obligations and the DTI ratio: When a borrower is obligated on a non-mortgage debt – but is not the party who is actually repaying the debt – […]

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