The Board will continue to think that an FCU is within the most readily useful position to build up a unique underwriting requirements centered on their danger threshold provided that those requirements is in line with responsible financing maxims. Even though the Board has historically just offered guidance on minimal guidelines for determining a debtor’s recurring earnings because the key requirements for eligibility for a PALs loan, that will not imply that an FCU may disregard a debtor’s debt burden whenever determining whether or not to give a PALs loan.Continue reading