Definitions

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • adj. Made without documentation as to the borrower's income.
  • n. A loan made without documentation as to the borrower's income.

Etymologies

Sorry, no etymologies found.

Examples

  • We are witnessing the piecemeal exposure of a vast criminal conspiracy, consisting of "affordable housing" policies at Fannie Mae and Freddie Mac, low-doc and no-doc "liar loans" by dumb and greedy mortgage bankers, and time bombs set by deliberately manipulative securitization of these loans and sale of "protection" by smart and greedy folks like GS and AIG.

    Goldman knew it profited from mortgage crisis

  • After all, the Canadian banks didn't make all the foolish sub-prime no-doc loans that were made in the US, the Canadian unemployment rate is somewhat less than in the US, and Canada is rich with natural resources with worldwide demand.

    The Time is Now and The Place is Mexico!

  • Everyone thought the rising prices would mitigate the imprudent loan processes and structures, the no-doc loans, the 97% loans or 120% home equity loans.

    The 14th Banker: How Do We Judge the Homeowner?

  • And so when newcomers like Ameriquest and New Century found a market appetite for no-doc loans with killer teaser rates, Countrywide did too.

    Angelo Mozilo's Story

  • The no-doc loans originated by Goldman and the rest of wall street created the collapse. drhunt says:

    Think Progress » Wall Street Bankers And Investors Fund New Media Platform For Gov. Bob McDonnell’s SOTU Response

  • Think about it this way: Two rival banks get together and offer you a "no-doc" mortgage for 115% of the value of your home.

    Plane Crazy

  • In a Sept. 7 email to Freddie Mac CEO Dick Syron and others, she specifically described the ramifications of Freddie Mac's continuing participation in the market as effectively "making a market" in no-doc mortgages.

    The Mortgage Crisis: Some Inside Views

  • In another email that day, Mr. Bisenius wrote to Michael May another senior vice president, we did no-doc lending before, took inordinate losses and generated significant fraud cases.

    The Mortgage Crisis: Some Inside Views

  • The decision by Fannie and Freddie to embrace no-doc lending in 2004 opened the floodgates of bad credit.

    The Mortgage Crisis: Some Inside Views

  • Politics—not shortsightedness or incompetent risk managers—drove Freddie Mac to eliminate its previous limits on no-doc lending.

    The Mortgage Crisis: Some Inside Views

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