Real estate blog entries tagged with ninja by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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ninja: Can You Still Get a Stated Income Mortgage? - 08/24/19 03:43 PM

Can You Still Get a Stated Income Mortgage?

Believe it or not, the calls come in. "Do you guys still do stated income loans?" Still? Seriously, a lot has changed in ten years, but in the home lending building perhaps there has not been a more pronounced departure than the Elvis of all mortgages, the stated income loan.

Basically, these creatures roamed the earth and skies during the pre-real-estate-downturn era and allowed a borrower to state what he made in income per month. To state the amount of money he had available for a down payment. And even to state what he did … (19 comments)

ninja: Not Your Grandfather's Stated Income Loan - 02/14/17 06:18 AM

Not Your Grandfather's Stated Income Loan

Stated income. No other phrase in the realm of home lending evokes as many good and bad memories, does it? For some --- mostly loan originators who wore an ethical stripe of a different color --- the days of the liar loans are fondly remembered as "the boom years." So too by their customers, suspecting or otherwise. Though in that case the "boom" signaled the implosion of their financial houses, often along with the four walls they inhabited.

But we're not going down that memory lane again today and we're definitely not talking about some no doc … (20 comments)

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