I recently had a loan application where the debt ratio was 41.01% and apparently, this lender’s limit was 41% on their debt ratio and I honestly thought nothing of it. 41.01 is such a minor overage, I though certainly they’re not going to have a problem approving this loan for what was otherwise a strong loan. Twenty percent down payment, a high credit score, good steady job, everything should have been fine. Of course, they called back and had a problem and I had to find some debt for the client to pay down to get the debt ratio right under 41%. 0.01% is equal to about $20 a month. It was utterly ridiculous and another good example of what’s going on in the mortgage industry right now.