Kentucky USDA Rural Housing Mortgage Lender

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 Chapter 11- Ratio Analysis 11.2 B. The Total Debt Ratio:  Revolving accounts: “with no outstanding balance” are not required to be closed.  Mortgages: Rental Property - Eliminated language regarding omission of mortgage debt. Guidance for entry of rental income in GUS is provided in the GUS Lender User Guide under 4.1.4.1.1, Retained Investment Properties.  Added: Debt management plans: o Include the monthly payment amount due from the counseling plan. o Refer to Chapter 10 for guidance on credit exception and documentation requirements.  Student Loans: Removed the phrase “the greater of” from Non-Fixed payment loans and added guidance regarding “when the payment is above zero” and “when the payment is zero”. 2 11.3 DEBT RATIO WAIVERS AND COMPENSATING FACTORS A. Purchase Transactions: Debt ratio waivers  GUS Refer, Refer with Caution, and manually underwritten loans without GUS assistance: o Added: “The lender must document compensating factors to support a debt ratio waiver....