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The Agency will recalculate the lender’s determination of repayment income, as a quality control step, when the repayment ratios are within 10 percent of the published debt ratio threshold of 7 CFR 3555.151(h). The Agency review is only required for manually underwritten loans, defined as application types that are not supported by GUS and applications submitted to GUS that have received an underwriting recommendation of Refer or Refer with Caution.
If the Agency’s calculation does not agree with the repayment income calculation of the lender, the Agency will contact the approved lender to review the results and determine the appropriate calculation. This action will strengthen the oversight procedures to verify compliance with regulatory requirements. The Agency will complete Attachment 9-F, Worksheet for Documenting Eligible Household and Repayment Income, to record their calculation, which will then be uploaded to the Electronic Customer File (ECF). 9.10 OPTIONAL DOCUMENTATION OF INCOME FORMS Attachment 9-G of this Chapter provides optional verification forms for the lender’s use in verifying non-employed income or adjusted annual income deductions as follows: