“One of mortgage planner Robert French’s clients, who earns about $700,000 a year and has a high credit score, was recently unable to get a stated-income mortgage. These loans became popular during the housing boom because it does not require borrowers to provide a copy of their W-2 tax form to the lender.”
“Stated-income loans, French said, are ‘just disappearing.’” (Boston Globe)
Oh! I wish it would!