Document Updates: West Virginia Ability-to-Repay Worksheet (Cx21375)
Apr 22, 2026
Earlier this month, the West Virginia Division of Financial Institutions adopted provisions relating to its Residential Mortgage Lenders, Brokers, and Loan Originators Rules that affect the configurations for Cx21375 “WV Ability-to-Repay Worksheet”. These provisions are effective on May 1, 2026.
W. Va. Code St. R. § 106-5-11.2 states:
If a borrower’s household debt-to-income ratio will exceed 50 percent upon the extension of new residential mortgage loan as determined from a credit report, credit application, financial statement, then the broker and initial lender must document, in writing and maintain in accordance with the provisions of subsections 3.1.30. or 6.1.24. of this rule, an assessment of the borrower’s ability to repay the loan according to its terms. Such assessment must be provided to the borrower(s) and must consider the household’s current debt obligations, the term of the loan, and the borrower(s) circumstances along with their current and projected income and assets, other than a security interest in the real estate taken to secure the loan.
A new section W. Va. Code St. R. § 106-5-11.4 has been created which states:
The requirement of subsection 11.2 of this rule shall not apply if the loan originated is insured or guaranteed by an agency of the federal government and meets the qualifications established by the insuring or guaranteeing federal agency. This includes, but is not limited to, Federal Housing Administration within the Department of Housing and Urban Development, Veteran’s Administration, and U.S. Department of Agriculture Rural Development loans.
The original Cx21375 Base Type configuration of “Conventional, FHA, and RD” has been updated to reflect “Conventional” only.
This change is available for testing on Stage & Stage 2 servers and will take effect on May 1, 2026. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
LEG-3743
DR-219104
The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third-party should consult with an attorney prior to embarking upon any specific course of action.
The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.