Florida Mortgage Fraud Epidemic Exploding in State
For example, widely-used “stated income” or “no doc loans,” require little or no salary documentation, seem to invite malfeasance by borrowers, so much so they’ve been dubbed “liar loans” in the industry
Let's talk liar loans!
He used a stated income (aka liar loan) and claimed each one was going to be his Let's face facts here, the "claimed" intention of a stated-income loan is to The REAL and common use of a stated income (liar loan) is to lie about
Stated income loan aka liar loans statistics in California
10 mistakes that made flipping a flop - USATODAY.com In California, 75% of purchase loans this year have little or no documentation of income, up from 34% in 2000, First American LoanPerformancesays. Oh. My. God
Stated Income Commercial Loans
It seems like CommercialBanc is getting more and more requests for stated income commercial real estate loans. Talking with the commercial loan specialists and select underwriters, it seems that the majority of requests are coming from
Smart Loan Officers Won’t Sell You A Stated Income Loan Program
The word, “sell a stated income loan and get insomnia.” How so? Stated Income means just that, you state your income on a loan application. It is a fast and easy way to avoid documentation. Sometimes you make income that doesn’t qualify
ABANDONED INFANTS
funding agency which will be stated in terms of the date(s) or between what dates A formula may be based on population, per capita income, and other or individuals to satisfy matching requirements of Federal grants or loans.
Exotic Loan Programs and Potential Foreclosures
Bottom line is that ALL of the “exotic” loan programs have valid and good uses. Let’s include “stated income”. Stated Income loans have long been used appropriately by people who more than qualified for the loan. Stated Income was often
The Beginning of Loans
State Of Texas Foreclosure Stated Income 125 Home Equity Loans Idaho Stated Income Equity Line Of Credit Stated Income Home Equity Line Of Credit Stated Income Home Equity Line Of Credit Loan Stated Income Home Equity Loans
Stated Income Mortgage Loan | A Quick Checklist
Also known as a no doc or loan doc loan - Borrower needs to have good to excellent credit - Stated income loans are typically for self-employed people or people with irregular income like commissions - Borrower states income for past 2
Are stated income loans really liar loans?
There are plenty of valid reasons for using a stated income loan and I believe most borrowers tell the truth when they apply for them. But there will always be the borrower who isn’t entirely truthful, or whose circumstances change
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