MGIC Tightens DTI Requirements

An alarming number of loans with high debt-to-income ratios have Mortgage Guaranty Insurance Corp. tightening its DTI and credit requirements.

The Milwaukee-based organization has revealed that it has seen an increase in residential loans which have DTI ratios that exceed 45 percent.

The recent phenomenon has the mortgage insurance company concerned — especially in cases where the higher ratios are combined with weaker credit profiles.


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From:: Financing