In my August 13th post, I defended 'stated income' as a legitimate tool in making a loan. In this post, let me be sure I have been crystal clear: Telling the borrower what to put
No, 'happy-to-grumpy' is not taking its place next to current ratio and debt to equity. It is a metric in banking, however. In an article on Measuring Up, Scott Leibs, deputy editor of CFO magazine
When it comes to 'No Doc' or 'Stated Income' loans, it seems that many lenders think this is what you do when you need to lie to qualify. So, in the interest of full disclosure,
Interesting question...and one I cannot answer definitively here. Check with your guidelines. Talk with a senior lender. I can tell you what I find is common from talking with lenders in my tax return analysis
Subscribe
