Liar’s Loans
July 24th, 2006 by 
reality
National Mortgage News says that, according to a new report by the Mortgage Asset Research Institute, “stated-income loans” deserve their nickname of the “liar’s loan.” MARI says that almost 60% of the stated-income amounts are exaggerated by more than 50%. See the Monday edition of NMN for the story by Brian Collins.
MARI is an industry association with the mission of combating mortgage fraud.
Posted in Real Estate, Rogues and Rascals | 