(a) Beacon Score.

1. (1) A Beacon Score of five hundred fifty (550) or greater is required.
2. (2) A Beacon Score of five hundred fifty (550) or greater is acceptable if the:

(i) Related credit issues were disability related; and

1. (ii) Applicant or applicants have since:

(b) (b) Initiated the process to meet the credit obligations.

1. (2) If the application is a joint request, the higher bureau score will be used.

(b) Credit history requirements.

1. (1) A loan application will be denied if the applicant has a credit rating of R3/I3 and greater unless the poor credit is directly attributable to the individual’s disability.

2. (2)

   1. (A) A loan applicant with a bankruptcy and/or public records documenting unpaid collections and judgments within the last two (2) years after a bankruptcy discharge will not be approved for a loan unless the bankruptcy/unpaid collections and judgments are directly attributable to the individual’s disability.

      1. (B) An applicant with a bankruptcy or unpaid collections and judgments must demonstrate/show a reestablished credit history and evidence of the ability to meet credit obligations.

3. (3) Additional documentation may be requested to verify whether the applicant or applicants have paid outstanding balances on:

   1. (A) Delinquent loans;

      1. (B) Unpaid collections/judgments; or
      2. (C) Defaulted loans.
4. (4) Additional credit history documentation may be requested.

5. (5) Loans will not be made to applicants who have previously defaulted on a loan to AATAFP.

   1. (c) Debt-to-income ratio.
6. (1) A fifty percent (50%) debt-to-income ratio is allowable if the borrower can adequately document sufficient cash flow or assets to repay the loan.
7. (2) Individuals approved for special funding (such as a Plan to Achieve Self-Support (PASS) through the Social Security Administration or a MAP-122 Adjustment through DMAS) will be considered without regard to their debt-to-income ratio.