Another Mortgage Insurer Tightens DTI Requirements
Last month,
Later in January,
The latest mortgage insurer to restrict its requirements on loans with high DTI ratios is
In Announcement 2018-1, the
The re-evaluation came after it said such transactions have increased in frequency.
A credit score of at least 700 will now be required on loans with DTI ratios that are greater than 45 percent.
"These changes apply to both our Simply Underwrite and standard guidelines," the update stated. "The updated underwriting guideline manual and supporting material will be posted to our website on or before
The change impacts M.I. applications received on or after
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