Fannie Mae Introduces a Solution to Student Loan Debt
At our Leg conference, an economist pointed out that student loans account for more debt than even car loans and credit cards and defaults are skyrocketing. Fannie Mae just announced new policies that will help more borrowers with student debt qualify for a home loan. The new solutions give homeowners the opportunity to pay down student debt with a mortgage refinance, allow borrowers to exclude non-mortgage debt paid by others as part of the loan application process, and make it more likely for borrowers with student debt to qualify for a mortgage loan by allowing lenders to accept student debt payments included on credit reports.
Source: NAMB post 4/27/2017