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Reply to "student loan exorbitant debt and the new mortgage rules"
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[quote=Anonymous]Haven't read the rule, but agree the terminology being used in the media is confusing. I think they are probably talking about monthly or annualized debt payments, not the full amount of the debt. It doesn't make sense to me that they would be comparing the total amount owed against income (when I think they would have to be looking at income on a monthly or annualized basis). As I understand it, PP is right, banks have always counted student loan debt in the debt/income ratios (just weren't bound by a federal rule re: what the actual debt to income ratio had to be).[/quote]
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