Where can I get a list of lenders that will write no-doc mortgages?

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Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
Hello:

With the "melt-down" of the mortgage market 7-8 years ago, virtually all of the "no-doc" or "stated income" loan products disappeared. Unfortunately though these products were designed for specific type of borrowers (mostly self-employed) and they were valuable, the products were nevertheless abused. The fraud that accompanied these transactions lead to irresponsible lending, foreclosures, and many other derogatory real estate issues.

There are portfolio lenders out there now however who have begun to reintroduce these products into the market. Some of them may call it "no-doc" while others may refer to it as "asset based" lending. An internet search would probably be the best place to begin gathering together a list. | 11.04.14 @ 21:22
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 06:26
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
"No doc" loans are extinct. If you did find a lender (probably private) to do the loan, you'd surely be looking at double digit interest rates. | 03.10.15 @ 04:01
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 06:26
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