Today's Fresh Blogs...

• The Death of Stated Income Loans

  Published: August 16, 2007, 11:57 pm

  Tags: Mortgage News Insight, Alt, Indymac, Liar Loans, Nina, Niv, No Income Loans, Sisa, Stated Income Loans

  on making the “liar loans” stated income and no income loan products completely irrelevant to the majority of lending situations. Regardless of credit score. They also eliminate some of the more “affordability” type products including the 40 year amortized loans. From an IndyMac announcement to brokers:

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• When people get desperate, all bets are off.

  Published: September 25, 2007, 7:24 pm

  Tags: Mortgage Musings, Liar Loans, Mortgage Fraud, Rachel Dollar, Stated Income Loans

  a mortgage broker that the stated income loan that they qualified for last time is no longer available they have to choose between losing their house and their credit rating or do something “drastic.” More and more people have been choosing “drastic” as shown by the Fraudblogger.com Fraud Index which has spiked more

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• Consumer Groups Push for Loan Freezes

  Published: October 21, 2007, 1:25 pm

  Tags: Mortgage News Insight, Foreclosure, Loan Modifications, Stated Income Loans, Subprime Adjustable Rate Mortgages, Subprime Arms

  will need to ensure that loans are modified on terms that are affordable to borrowers.” Ms. Ludwig keenly points out that even with a modification these subprime adjustable rate loans will still be unaffordable at the teaser rates they were initial offered at. AND WHY IS THAT? Because people over-stated their income 50-150% on

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• Banks are still fueling the fire

  Published: March 4, 2008, 12:07 pm

  Tags: Mortgage Musings, Fraudulent Loans, Liar Loans, Mortgage Fraud, Stated Income, Stated Income Loans

  YOU . 620 FICO STATED WAGE EARNER 80 LTV CASHOUT 620 STATED FIXED INCOME 80 LTV CASHOUT STATED OPTIONS ARMS UP TO 90 LTV PURCHASE OR RATE AND TERM ( 700 FICO ) INERFAMILY TRANSFERS 70 LTV FIXED RATE OPTION ARMS 100% GIFT FUNDS NO GIFT LETTER NEEDED 30% GIFT OF EQUITY JUMBO STATED CASHOUT NO ADDS

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