USDA HB-1-3555 ch11 bootstrap

usda-hb-3555-ch11

Bootstrap for USDA HB-1-3555 ch11 register.

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source:
  type: regulation
  id: usda-hb-3555-ch11
  authority: USDA HB-1-3555 ch11 bootstrap
  description: Bootstrap for USDA HB-1-3555 ch11 register.
obligations:
  - id: usda-hb-3555-ch11-piti-34-percent-standard
    canonical_id: usda-hb-3555-ch11-piti-34-percent-standard
    section: USDA HB-1-3555 Ch. 11.2.A — The PITI Ratio
    description: |
      Applicants are considered to have repayment ability if their
      proposed monthly housing expense does not exceed 34 percent of
      their repayment income.
    type: do
    audit_question: For every USDA SFHGLP-guaranteed loan, can [LENDER] evidence that the applicants' proposed monthly housing expense (PITI) is no more than 34 percent of repayment income, OR that valid compensating factors are documented to support a ratio waiver in accordance with HB-1-3555 Chapter 11?
    program_review: Does the program account for the 34% PITI standard and the compensating-factor ratio-waiver path when PITI exceeds 34% of repayment income?
    file_review: Spot-check files; confirm PITI at or below 34% or documented Chapter 11 compensating factors. The officer judges sufficiency of the compensating factors.
    judgment: true
    feeds: []
    workflow_phase: underwriting
    owner_role: underwriter
    secondary_owner_role: loan_officer
    cadence: per_loan
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - usda
      - hb-1-3555
      - ch11
      - piti-ratio
      - promoted
    primary_source:
      tier: 1
      authority: USDA HB-1-3555 Chapter 11.2.A — The PITI Ratio
      source_class: usda-handbook-hb-1-3555
      source_url: https://www.rd.usda.gov/sites/default/files/3555-1chapter11.pdf
      snapshot_id: 64c7bd1eb63a02a0
      fetched_at: '2026-05-23T01:50:00Z'
      content_hash: sha256:7bfa8a84c99d3af125f09320e3b47102e164921a554d589649e85d2844f6f437
      paragraph_quote: housing expense does not exceed 34 percent of their repayment income.
      drafter_attestation: Copied verbatim from USDA HB-1-3555 snapshot 64c7bd1eb63a02a0 (Ch 11) at 2026-05-23. Source PDF retrieved via Wayback Machine.
    promoted_at: '2026-05-23T13:45:39+00:00'
    promoted_from: usda-hb-3555-ch11-roundb-v1.yaml
  - id: usda-hb-3555-ch11-td-41-percent-standard
    canonical_id: usda-hb-3555-ch11-td-41-percent-standard
    section: USDA HB-1-3555 Ch. 11.2.B — The Total Debt Ratio
    description: |
      Applicants are considered to have repayment ability when their
      total debts do not exceed 41 percent of their repayment income.
    type: do
    audit_question: For every USDA SFHGLP-guaranteed loan, can [LENDER] evidence that the applicants' total debts do not exceed 41 percent of repayment income, OR that valid compensating factors are documented to support a ratio waiver in accordance with HB-1-3555 Chapter 11?
    program_review: Does the program account for the 41% total-debt standard and the compensating-factor ratio-waiver path when total debt exceeds 41% of repayment income?
    file_review: Spot-check files; confirm total debt at or below 41% or documented Chapter 11 compensating factors. The officer judges sufficiency of the compensating factors.
    judgment: true
    feeds: []
    workflow_phase: underwriting
    owner_role: underwriter
    secondary_owner_role: loan_officer
    cadence: per_loan
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - usda
      - hb-1-3555
      - ch11
      - td-ratio
      - promoted
    primary_source:
      tier: 1
      authority: USDA HB-1-3555 Chapter 11.2.B — The Total Debt Ratio
      source_class: usda-handbook-hb-1-3555
      source_url: https://www.rd.usda.gov/sites/default/files/3555-1chapter11.pdf
      snapshot_id: 64c7bd1eb63a02a0
      fetched_at: '2026-05-23T01:50:00Z'
      content_hash: sha256:7bfa8a84c99d3af125f09320e3b47102e164921a554d589649e85d2844f6f437
      paragraph_quote: exceed 41 percent of their repayment income.
      drafter_attestation: Copied verbatim from USDA HB-1-3555 snapshot 64c7bd1eb63a02a0 (Ch 11) at 2026-05-23. Source PDF retrieved via Wayback Machine.
    promoted_at: '2026-05-23T13:45:39+00:00'
    promoted_from: usda-hb-3555-ch11-roundb-v1.yaml
  - id: usda-hb-3555-ch11-document-debts
    canonical_id: usda-hb-3555-ch11-document-debts
    section: USDA HB-1-3555 Ch. 11.2 — The Ratios (debt documentation)
    description: |
      [LENDER] must document the applicants' debts through various
      records including, but not limited to, credit reports, direct
      or third-party verifications, court documents, and verification
      of deposits. All open debts/accounts (including non-medical
      collection accounts and judgments) incurred through the closing
      date must be considered in the total debt calculation.
    type: do
    audit_question: For every USDA SFHGLP-guaranteed loan, can [LENDER] evidence (i) that all of the applicants' debts were documented through credit reports, direct/third-party verifications, court documents, and verification of deposits as applicable, and (ii) that all open debts/accounts incurred through the closing date (including non-medical collections and judgments) were considered in the total debt calculation?
    program_review: Does the program ensure all applicant debts are documented (credit reports, direct/third-party verifications, court documents, VOD) and that every open debt/account through the closing date — including non-medical collections and judgments — is counted in total debt?
    file_review: Spot-check files; confirm debt documentation completeness and that all open debts through closing (incl. non-medical collections/judgments) were captured in the ratio.
    judgment: false
    feeds: []
    workflow_phase: underwriting
    owner_role: underwriter
    secondary_owner_role: loan_officer
    cadence: per_loan
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - usda
      - hb-1-3555
      - ch11
      - debt-documentation
      - promoted
    primary_source:
      tier: 1
      authority: USDA HB-1-3555 Chapter 11.2 — The Ratios
      source_class: usda-handbook-hb-1-3555
      source_url: https://www.rd.usda.gov/sites/default/files/3555-1chapter11.pdf
      snapshot_id: 64c7bd1eb63a02a0
      fetched_at: '2026-05-23T01:50:00Z'
      content_hash: sha256:7bfa8a84c99d3af125f09320e3b47102e164921a554d589649e85d2844f6f437
      paragraph_quote: The lender must document the applicants
      drafter_attestation: Copied verbatim from USDA HB-1-3555 snapshot 64c7bd1eb63a02a0 (Ch 11) at 2026-05-23. Source PDF retrieved via Wayback Machine.
    promoted_at: '2026-05-23T13:45:39+00:00'
    promoted_from: usda-hb-3555-ch11-roundb-v1.yaml
_promotion_history:
  - promoted_at: '2026-05-23T13:45:39+00:00'
    candidate_path: obligations\_remediation\_round_b_drafts\usda-hb-3555-ch11-roundb-v1.yaml
    candidates_promoted: 3
    candidates_skipped_existing: 0

Verbatim regulatory text (3)

Verbatim provisions from USDA HB-1-3555 ch11 bootstrap — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

USDA HB-1-3555 Ch. 11.2.A — The PITI Ratio

housing expense does not exceed 34 percent of their repayment income.

Source: USDA HB-1-3555 Chapter 11.2.A — The PITI Ratio · source URL · snapshot 64c7bd1eb63a02a0

USDA HB-1-3555 Ch. 11.2.B — The Total Debt Ratio

exceed 41 percent of their repayment income.

Source: USDA HB-1-3555 Chapter 11.2.B — The Total Debt Ratio · source URL · snapshot 64c7bd1eb63a02a0

USDA HB-1-3555 Ch. 11.2 — The Ratios (debt documentation)

The lender must document the applicants

Source: USDA HB-1-3555 Chapter 11.2 — The Ratios · source URL · snapshot 64c7bd1eb63a02a0