On May 2, 2016, NAR President Tom Salomone sent a letter to the Department of Housing and Urban Development (HUD) with concerns about the Federal Housing Administration’s (FHA) recent guidance on calculating student loan payments. The letter thanks HUD and FHA for implementing NAR’s previous ask that monthly obligations be calculated using 1% of the outstanding student loan debt rather than 2%, but also raises the concern that borrowers with income-based repayment plans may be unfairly treated under the new calculation method.
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