Sentences with phrase «doc mortgage»

The first step will be to dump any loan forms which allow no doc or low doc mortgage applications.

Back then there were stated - income mortgages and no - doc mortgages where lenders would accept the income as stated by the borrower.

If you have a long history of maintaining great credit, you can skip a few steps in the mortgage process and get something called a low doc mortgage.

Remember subprime mortgage lending, no - doc mortgage loans, mortgage - backed securities, credit default swaps, derivatives, suspect credit ratings, the housing value plunge, the 2007 - 08 financial meltdown, and foreclosures galore?

The Bank will accept all RMBS as collateral, however it will only provide value for prime full - doc residential insurable mortgages and similarly qualified low - doc mortgages comprising up to 10 per cent of the value of the security.

A stated income mortgage is a form of a low doc mortgage that requires lenders to have great credit and a reasonable income to debt ratio.

The housing boom was fueled by optimistic expectations for house price appreciation, combined with lax underwriting standards embodied in such practices as no - doc mortgages and widespread speculative activity by investors.

It was just a decade ago that millions of Americans took full advantage of no doc mortgages.

That left many scrambling for new loans that serve the original purpose of no and - no - doc mortgages, without the potential for abuse created by NINJAs.

The only catch for these great no doc mortgage substitutes is they usually come with their own set of stringent requirements.

In a mortgage lending era filled with stringent guidelines, non-prime loans can be a great alternative for anyone looking for a no doc mortgage.

Also, other options like an Alt - A mortgage, low doc mortgage, and stated income mortgage are all options for the self employed.

To make sure that does not happen again Fannie - Mae and Freddie - Mac now require all income to be documented, there are not any more stated - income mortgages or no - doc mortgages.

A stated income or no doc mortgage loan allows individuals with difficult to document income to buy a home.

Filed Under: Buying / Selling, Purchase Tagged with: loan with out employment documentation, no doc loan, no doc mortgage, no documentation loan, no documentation mortgage, self - employed mortgage

Fortunately, lending and credit standards have loosened but far from the pre-2008 days of when your pet could be approved for a no doc mortgage.

Some of the most common programs are stated income or low doc mortgages.

Whether you need a no - doc mortgage or a bad credit HELOC, we have the perfect system to match you with experienced lending professionals tailored best to meet your needs.

• You help get your client all the docs the mortgage broker needs.

I spoke with a Realtor here in NJ recently that told me had had deals closed with no doc Mortgage.