Reduced documentation definition

Reduced documentation or "stated income" loan means a loan for which the lender may charge more because the borrower does not provide full documentation of income or assets.
Reduced documentation means a loan feature that is commonly referred to as “low doc/no doc,” “no income/no asset,” “stated income,” or “stated assets.” For mortgage loans with this feature, an institution sets reduced or minimal documentation standards to substantiate the borrower’s income and assets.
Reduced documentation means a practice in which a lender qualifies a borrower

Examples of Reduced documentation in a sentence

  • Reduced documentation and approvals enable accelerated delivery of capabilities; e.g., a single Test and Evaluation Master Plan or Capability Development Document could cover all releases for software intensive programs.

  • Reduced documentation loans only appear in the reduced documentation category and do not appear in any of the other categories.

  • Reduced documentation loans, many of which are commonly referred to as “Alt-A” loans, are originated under programs in which there is a reduced level of verification or disclosure compared to traditional mortgage loan underwriting, including programs in which the borrower’s income and/or assets are disclosed in the loan application but there is no verification of those disclosures and programs in which there is no disclosure of income or assets in the loan application.

  • Reduced documentation, such as stated income, should be accepted only if there are other mitigating factors such as lower LTV and other more conservative underwriting standards.

  • Encourage the development of master's and doctoral programs with emphasis on research; these programs should be supported on activity and research projects whose quality has been recognized nationally.

  • Reduced documentation loans do not require borrowers to provide proof or verification of key financial attributes such as income, assets or down payment funds.

  • Temporary licenses allow for any of the four following:• Reduced documentation: layout plans do not require a stamp.

  • Some of the process improvements include:• Specified intake windows to encourage applications to apply with enough time to receive this limited-period funding.• A shelter and transitional housing specific capital and operating budget, which is included in the Application Form (PDF) in the “Resources” section of the website.• Reduced documentation required at intake, with the opportunity for further streamliningin each stage of the applications process.

  • Reduced documentation is required to provide evidence18 Date is aligned with the final rules published by the US Securities and Exchange commission for Section 1502 of the Dodd Frank Actthat, while relevant to the audit period, the materials were "outside the supply chain".

  • Reduced documentation mortgage loans are intended to assist borrowers obtain mortgage financing when their income, employment, or assets are difficult to verify.


More Definitions of Reduced documentation

Reduced documentation or "stated income" loan means a loan for which the lender may charge more because
Reduced documentation means a loan feature in which the lender sets reduced or

Related to Reduced documentation

  • Co-Documentation Agent as defined in the preamble hereto.

  • MSAA Indicator Technical Specifications document means, as the context requires, either or both of the document entitled “Multi-Sector Service Accountability Agreement (MSAA) 2019-20 Indicator Technical Specifications November 5, 2018 Version 1.3” and the document entitled “Multi-Sector Service Accountability Agreement (MSAA) 2019-20 Target and Corridor-Setting Guidelines” as they may be amended or replaced from time to time;