Mortgagee Letter 2013-05 revises the guides for manually underwritten loans where the borrower has a credit score below 620 and the total debt-to-income ratio exceeds 43%. Here are the 4 things you need to know about this update: 1. These changes are effective for case numbers assigned on or after April 1, 2013. 2. Manual underwriting is required for loans with a credit score less than 620 AND a debt-to-income ratio greater than

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