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Home Loan Modification SecretsGuardian ExpressBelieve 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 » |
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Underwater refinance without HARP?MortgageLoan.comThat 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 up ...and more » |
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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 » |
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Spring Mortgage Market Update (2012)Move SmartlyHeavier 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 » |
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HARP 3 : Early Rumblings On A HARP 2.0 SuccessorThe 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 » |
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Jumbo Mortgages Offer Low Rates, Strict TermsFox BusinessThey 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, ...and more » |
December 4, 2008
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