stated income mortgage loans
- Silvergate Grows Reverse Mortgage Business for Near-Record Earnings
Reverse Mortgage Daily
“The largest factor in the Bank's asset growth was significantly increased balances in held-for-sale reverse mortgage loans, with more modest increases in almost all other categories of loans held for investment,” the company stated in a press release.and more » - ABC 33/40 - Birmingham News, Weather, SportsCan you refinance an underwater ...
Alabama's News Leader
That leaves out a lot of mortgages that were originated before the financial crisis that didn't qualify for Fannie or Freddie backing -- such as stated-income loans or option-ARMs where borrowers could initially make monthly payments that didn't keep ...and more » - Home Loan Modification Secrets
Guardian Express
Believe it or not, that is because some people lie when they submit an application for a loan modification, and the mortgage companies don't intend to be made fools of again like they did with the “stated income” loans, which have been referred to as ...and more » - Mortgage brokers sentenced for parts in mortgage fraud and money laundering scheme
KHON2
In each case, Kalani, Balino or others working with them found an individual who served as a "straw buyer," or one who obtained loans by falsely claiming that he would live in the property, and by inflating his income. The loans were "stated income ... - Are Liar Loans Going to Get Principal Reductions?
American Banker (subscription)
In the vernacular, so-called "liar loans" typified by the alphabet soup of products with such names as SISA (stated-income, stated-asset) and NINA (no income, no asset) blossomed during the housing boom. But what is interesting is the virtual silence ...and more » - PennyMac Mortgage Investment Trust Reports First Quarter 2012 Results
EON: Enhanced Online News (press release)
Pretax income attributable to the correspondent lending segment was $10.3 million for the quarter, primarily resulting from a $13.4 million net gain on mortgage loans acquired for sale and $2.8 million of interest income. PMT's distressed mortgage loan ...and more » - Spring Mortgage Market Update (2012)
Move Smartly
Heavier regulation of “stated-income” loans, where a borrower's income is not verified using traditional methods. Stated-income loans have been around for longer than I have. While they come with an increased level of risk, lenders know how to mitigate ...and more » - PennyMac Mortgage Investment Trust Reports First Quarter 2012 Results
MarketWatch (press release)
Pretax income attributable to the correspondent lending segment was $10.3 million for the quarter, primarily resulting from a $13.4 million net gain on mortgage loans acquired for sale and $2.8 million of interest income. PMT's distressed mortgage loan ...and more » - HARP 3 : Early Rumblings On A HARP 2.0 Successor
The Mortgage Reports (blog)
Alt-A mortgages were primarily used for people with two of the three pillars of a strong conforming mortgage approval : (1) Income, (2) Credit, and (3) Assets. Alt-A loans included stated income products, stated asset products, stated income/stated ...and more » - Jumbo Mortgages Offer Low Rates, Strict Terms
Fox Business
They are middle-income families and even first-time homebuyers. But if you need a jumbo mortgage, don't get discouraged -- unless you have bad credit. "Though the barrier of entry for any loan has been raised from the 'stated-income' days, ...
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