Is there a maximum debt-to-income ratio requirement for Relief Refinance Mortgages?
The Relief Refinance Mortgage – Same Servicer does not have a maximum debt-to-income ratio requirement, unless the principal and interest payment between the current and new payment increases by more than 20 percent in which case the maximum debt-to-income ratio is 45 percent. For the Relief Refinance Mortgage – Open Access, Loan Prospector® determines the maximum debt-to-income ratio during assessment. If the mortgage must be manually underwritten because it receives a Caution risk class and no A-minus eligible purchase eligibility message the mortgage must meet our maximum debt-to-income ratio requirements in Guide Chapter 37.16.
