Relevant:
- Stated Income (Liar Loans) Still Available for Some
- Reality Check on Raising Mortgage Caps
- The rush to buy: Dropping contingencies on offers, thinking equity went up in last month, and stated income loans.
- Countrywide eliminating Non-Conforming Fast & Easy stated-income loans today
- stated income bad for loan modifications too
2007-05-24 — marketwatch.com
" Banks need to know a potential borrower's real -- not stated -- income when a subprime loan is applied for"
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