Home | Ask Your Question | Mortgage Glossary |Free Credit Report | Mortgage Calculator |
|
|||||||||||||||||||||||
Mortgage Professor about stated income: | |||||||||||||||||||||||
What Are Mortgage Documentation Requirements?
5 October 2005 What Does Mortgage Documentation Consist Of? A lender?s "documentation requirements" stipulate a) the information about income, assets and employment that must be provided; b) whether and how this information will be used by the lender; and c) ... more... Stated Income Loans: Lie to Get a Better Rate? June 20, 2005 Stated income loans are also called ?liars loans?, because in some cases, the rules virtually invite the borrower to lie. The case below is a great illustration. ?My husband makes $7,000 a month but has a credit score of 503. I make $1250 and have a score ... more... |
|||||||||||||||||||||||
stated income related definitions |
|||||||||||||||||||||||
Truth-In-Lending, TILA
Truth-In-Lending A federal law requiring disclosure of the Annual Percentage Rate to home buyers shortly after they apply for the loan. Also known as Regulation Z and Truth-In-Lending-Act (TILA). Requires disclosures about its terms and cost and gives consumers the right ... more... Equal Credit Oportunity Act Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more... |
|||||||||||||||||||||||
More about stated income History Of The Federal Income Tax Don't Buy Your On-Line Marketing Articles From Article Factories Mortgage Loan What are No Doc Loans? Credit and Divorce Flexible Mortgage UK Mortgages to Specially Suit the Self-employed Bill Consolidation: Freedom From Debt? Bad Credit Mortgage - Got Bad Credit? Get 100% Financing! Mortgage Research Good News for House Buyers Self Employed Mortgage Loans - A Survival Guide Is My Money Safe? On The Soundness Of Our Banks
|
|
||||||||||||||||||||||
|