Sentence examples similar to verification loan from inspiring English sources

He said that before the broad defaults on subprime mortgages forced banks this past summer to tighten standards, buyers with good credit applying for full-income verification loans could qualify for mortgages worth 95percentt of the purchase price up to $1 million.

The story, with its coincidence, is illustrative of how easy it was in a heated housing market for people like the Schiefers to get no-deposit, no-income verification loans whose payments they knew they could not meet once the teaser rates evaporated.

"The market is paying me more to do a no-income-verification loan than it is paying me to do the full documentation loans," said William Dallas of Ownit Mortgage Solutions.

And newer buildings have many people who bought with no-income-verification loans and very relaxed criteria.

It will also require face-to-face verification for loans to be granted, it confirmed.

Need a verification photo for a loan application?

Once the procedure of applications and verification are complete, the loan is disbursed.

The danger of the "Liar" loan without verification of your income and job is that they have the temporary kind of rates like the N.I.N.A. and N.I.N.J.A. loans.

On another occasion, Ms. Zaback asked a loan officer for verification of an applicant's assets.

Rocket Mortgage boils the loan application and verification process down to just a few easy steps while still playing nicely with all of the regulations applicable to each situation.

Mr. Vanasek said he "made repeated efforts to cap the percentage of high risk and subprime loans in the portfolio," and to curb the making of loans without income verification, but was continually ignored or rebuffed.