35 Michael Moores credit report indicates that he has a mortgage liability with 1 X 30 days late in the past 12 months. The mortgage is a co-signed loan with his brother. Michaels brother has provided 12 months of cancelled checks showing that he alone has been making the monthly payments. Can the co-signed mortgage be omitted from Michaels liabilities when calculating his DTI for qualifying purposes? And why?

Kathy Kays credit report indicates that she has several student loans which she has verified are deferred for 26 months. Is she able to omit the monthly payments when calculating her DTI for qualifying purposes? And why?

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Jack Bell is applying for a refinance of his primary residence. In the course of reviewing his credit report inquires you find out that he is also in the process of purchasing a new investment property with a different lender. Does Fannie Mae require that you consider the payment for the new investment property provided your transaction closes first? And why?