Transcription of Agency Guideline Revisions - STMPartners
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Agency Guideline Revisions - STMPartners
Agency Guideline Revisions Note: SunTrust Mortgage specific overlays are underlined. Last Revision Date: 03/03/2017 (Correspondent) Page 1 of 14 Topic Impacted Document Impacted Products Current guidelines Revised guidelines Effective Immediately for NEW AND EXISTING Loan Applications ON OR After March 3, 2017 Lease Payments Correspondent Section Agency Loan Programs- Guideline Standard Agency (non-AUS, DU & LPA) Agency Plus (DU & LPA) DU Refi Plus Texas Cash-Out Refi (DU) Liabilities and Qualifying Ratios / Lease Payments Non-AUS Lease payments are included in the debt ratio, regardless of remaining payments. Fannie Mae DU Non-AUS guidelines apply. Freddie Mac LP Non-AUS guidelines apply. Liabilities and Qualifying Ratios / Qualifying Ratios Non-AUS DTI Ratios The DTI ratio consists of two components: total monthly obligations, which includes the qualifying payment for the subject mortgage loan and other long-term and significant short-term monthly debts; and total monthly income of all borrowers, to the extent the income is used to qualify for the mortgage.
Agency Guideline Revisions Note: SunTrust Mortgage specific overlays are underlined. Last Revision Date: 03/03/2017 (Correspondent) Page 1 of 14 Topic Impacted Document Impacted Products Current Guidelines
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