GearsMcGilf
Registered
Werd. I was in private banking and we did 100% loans and stated income loans all the time. I didn't do mtgs myself, but I had to review them a lot before referring them to the mtg guy. The stated income loan was the dumbest and most crooked idea ever, along with ARMs frankly. When you're mtg starts to adjust, you're fucked if you can't refi. And, why would you pay an extra 25bpts just to not prove your income unless you are in fact lying about your income? It's an oxymoron.
