RHS revised chapter 11 of the Single Family Housing Guaranteed Loan Program Technical Handbook (HB-1-3555). The revisions to chapter 11:
- Increase the maximum PITI Ratio to 34% (applicable to non-GUS Accept files);
- Provide additional clarification on business debts reported on the applicant’s personal credit report;
- Clarify that waivers are not permitted to increase the PITI ratio above 34% for purchase transactions (applicable to non-GUS Accept files);
- Add additional compensating factors which may be considered to support approval of a ratio wavier; and
- Make minor grammatical and formatting edits.
The revisions are expected to be implemented August 5, 2024.
Click to view the RHS Chapter 11 (Ratio Analysis): https://www.tenaco.com/wp-content/uploads/2024/06/RHS-Chapter-11-Ratio-Analysis.pdf
Click to view the SFH Guaranteed Origination Notice: https://www.tenaco.com/wp-content/uploads/2024/06/SFH-Guaranteed-Origination-Notice-6-25-24.docx
