AgentMortgage

Should stated-income loans be banned?

Rising foreclosure rates warrant probe
Published on Aug 20, 2007

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by CareyBot

A stated-income loan (SIL) qualifies a borrower using the income the borrower states, as opposed to the income the borrower can document. With an SIL, the lender agrees not to verify the income the borrower states on the application. As ...

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