Regulations of Connecticut State Agencies
(a) Income Ratios—The Department shall apply the income ratios employed by the first mortgage lender.
(b) Evaluation—The Department shall evaluate the credit worthiness of each homebuyer based on documentation of the following:
(1) Gross family income which shall include income from whatever source derived, including both earned and unearned income;
(2) Debts and current credit status; and
(3) Employment history and stability of employment.
(c) Notwithstanding subsection 8-289-11 (b), the Commissioner may accept the underwriting criteria applied by the first mortgage lender.
(Effective February 28, 1994)