- low-doc loan
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Low Doc loans are a flexible solution for self-employed people who have income and assets, but are unable to provide the required financial statements or tax returns at the time of application.
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low-doc loan
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low-doc loan — /loʊ dɒk ˈloʊn/ (say loh dok lohn) noun Colloquial a loan from a lending institution, such as a bank, for which minimal documentation of the borrower s ability to service the loan is required. Compare no doc loan. Also, lo doc loan …
No doc loan — A No Doc or Low doc loan (abbr: No/Low Documentation Loan) refers to a finance product commonly offered by a mortgage lender to consumers who cannot qualify for normal loan products or do not wish to give up their financial privacy. However… … Wikipedia
no-doc loan — /noʊ dɒk ˈloʊn/ (say noh dok lohn) noun Colloquial a loan from a lending institution, such as a bank, for which no evidence is required of the borrower s ability to service the loan, other than the borrower s warranty. Compare low doc loan …
Loan-to-value ratio — The loan to value (LTV) ratio expresses the amount of a first mortgage lien as a percentage of the total appraised value of real property. For instance, if a borrower borrows $130,000 to purchase a house worth $150,000, the LTV ratio is… … Wikipedia
Loan modification in the United States — Loan modification, the systematic alteration of contactual mortgage loan agreements, has been practiced in the United States since the 1930s. During the Great Depression loan modification programs took place at the state level in an effort to… … Wikipedia
ninja loan — n. A loan or mortgage given to a person who has no income, no job, and no assets. Also: NINJA loan. [From the phrase, No Income, No Job or Assets.] Example Citations: It s not as though the absurd excesses of the mortgage market were some big… … New words
liar loan — n. A loan or mortgage provided without requiring documentation from the borrower. Example Citations: Last year almost forty per cent of subprime borrowers were able to get liar loans mortgages that borrowers can get simply by stating their income … New words
Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets … Wikipedia
Mortgage industry of the United States — Historical U.S. Prime Rates The Mortgage industry of the United States is a major financial sector. The federal government created several programs, or government sponsored entities, to foster mortgage lending, construction and encourage home… … Wikipedia
Mortgage-backed security — Securities Securities Bond Stock Investment fund Derivative Structured finance Agency security … Wikipedia
