stated-income

In that sense, credit applications aren't much different from the so-called stated-income mortgages that came to be called "liar loans" during the subprime crisis.

Cards Return to School Jessica Silver-Greenberg 2011

IndyMac, of Pasadena, Calif., and Seattle-based WaMu made many so-called stated-income loans, where borrowers didn't have to fully document their income or assets.

Criminal Mortgage Probes Fizzle Out Jean Eaglesham 2011

There is no relationship between the CRA and ARMs (adjustable rate mortgages), stated-income loans, negative amortization loans, predatory lending or jumbo subprime loans.

Think Progress » Palin aide refuses to criticize Limbaugh by name when calling his ‘retard’ comments ‘crude and demeaning.’ 2010

Kuhn put the man into a stated-income loan that raised his payments by $200 a month, even though he was struggling to keep up on his existing mortgage.

Michael Hudson: Boiler Rooms and Foreclosure Mills: A Brief History of America's Mortgage Industry Michael Hudson 2010

Kuhn put the man into a stated-income loan that raised his payments by $200 a month, even though he was struggling to keep up on his existing mortgage.

Michael Hudson: Boiler Rooms and Foreclosure Mills: A Brief History of America's Mortgage Industry Michael Hudson 2010

For example, according to the original complaint, one $2.8 million stated-income loan had numerous problems including an incomplete appraisal, no manager's approval and inappropriate valuation.

Thornburg Trustee Targets BofA Over Countrywide Loans Patrick Fitzgerald 2011

Kuhn put the man into a stated-income loan that raised his payments by $200 a month, even though he was struggling to keep up on his existing mortgage.

Michael Hudson: Boiler Rooms and Foreclosure Mills: A Brief History of America's Mortgage Industry Michael Hudson 2010

Unless the mortgage broker tried to get a customer approved for a regular loan, had it rejected, and then suggested the customer use a stated-income loan with an inflated income estimate, in order to qualify.

Matthew Yglesias » On So-Called “Irresponsible” Borrowers 2009

Kuhn put the man into a stated-income loan that raised his payments by $200 a month, even though he was struggling to keep up on his existing mortgage.

Michael Hudson: Boiler Rooms and Foreclosure Mills: A Brief History of America's Mortgage Industry Michael Hudson 2010

All the rage during the peak of the housing boom, these mortgages went by names like "no-doc" (meaning no documentation of income required), "low-doc" or "stated-income" mortgages.

No-Doc Mortgages Are Back?! 2010