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Are Stated Income Loans Illegal?

Are Stated Income Loans Illegal? Are stated income loans illegal? One of the many causes of the phenomenon known as the “housing bubble”, (1) was the stated income loans (2). To deal with the collapse of the housing market, the Obama Administration passed the Dodd-Frank Act (3) which prohibited the institute of the aforementioned loans … Read more

ITIN Mortgage Loans

ITIN Mortgage Loans ITIN mortgage loans are non-conventional loans (2) for foreign individuals who are not eligible for an SSN registration (3) and only possess an ITIN as their tax processing identification (1). The Social Security Numbers are identification codes (6) issued to eligible foreigners (5) and US citizens (4). Unqualified aliens with ineligibility to … Read more

Stated Income Loans In California

Stated Income Loans For California After the Dodd-Frank legislation piece was passed more than a decade ago (3), stated income loans initially disappeared (5) as they were partly blamed for the collapse of the housing market (1). Some years ago, the Trump Administration passed the S. 2155 (7) that even when it did not repeal … Read more

Stated Income Loans

Stated Income Loans Stated income loans for mortgages were one of the many causes of the disintegration of the US housing market in 2008 (1), called the “housing bubble” (2). Therefore, in 2010, the Obama Administration passed the Dodd-Frank reform legislation (3) which in practice prohibited to institute loans that are granted with the sole … Read more