#2253932 - 05/14/21 04:20 PM
Re: DTI requirements
Anonymous
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Platinum Poster
Joined: Nov 2010
Posts: 930
USA
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Depending on the circumstances, it can be a customer relationship issue. Here's a personal example.
Several years ago, when my daughter had just finished graduate school and was getting established in her profession, she had a limited credit history and almost no income history, so I agreed to be a joint applicant on her auto loan. Our credit union, where I had banked for decades and she had held her checking and savings accounts since she was a teenager, declined our application because her DTI based on the prior year's tax return income did not meet their standards. (She had no income her final year of school while she was completing her required internships.)
The bank that approved our application now holds her checking account, auto loan, mortgage, and credit card, as well as my primary checking and savings account and mortgage.
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Opinions are strictly my own, and have nothing to do with my employer.
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