Non-QM, HELOC Products; Specified Pool Primer; LO Comp and Licensing Update

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Posted To: Pipeline Press

Remember NINA loans from 10-15 years ago where the lender would purposely discard anything in the file dealing with income because underwriters didn’t want documentation? Several lenders are now promoting no income, no asset non-owner loans. For example, 360 Mortgage is now promoting its NINA investor loans . We’re at the point where borrowers must prove that they won’t live there. (Speaking of rent, Quicken Loans has its new VRBO income program .) What if you don’t anyone to know where you are, physically? Sorry, “they” know where you are all the time . Authorities have obtained search “geofence” warrants that require Google to turn over data from a database known as Sensorvault . The warrants “specify an area and a time period, and Google...(read more)

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Source: http://www.mortgagen...

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