SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: loantech who wrote (27601)3/2/2005 12:15:55 PM
From: Ramsey Su  Read Replies (2) of 110194
 
stated income loans is a problem that is unique to this cycle, since there were no such thing in the old days.

Wouldn't stating income that is not true, and by signing the loan application, an act of fraud? So in theory, if these borrowers eventually defaults, a lender could come after them for fraud and may be exempt from non-recourse limitations.

Then again, a defaulting borrower may tell the lender that it was joe loan officer who told them what to put down on the application and passes the buck back to the lender?

In either case, I think these stated income loans are going to be one hell of a mess when the excrements hit the fan.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News