What is a "No Doc" ReFi? - Loan Modification Forum

FacingNorth · 11-24-2008, 12:28 PM

Anyone know?

Vincent E · 01-12-2009, 06:41 PM

No Doc Refi meaning you do not need to provide any documentation such as income, W2's (2006-2007) Tax Return, bank statement, etc...It is also known as "NINJA Loan." This type of program was created in 2003-2004 by the lender/investor. The lender was only wanted to have a loan application fill out with name and address. In one month, all of this loan that is approved by the lender/investor; customer first payment was in default. The lender/investor changes there guideline and have the customer fill out a complete loan application, but did not verified any assets or employment.

11-24-2008, 12:28 PM	#1 (permalink)
FacingNorth Senior Member Join Date: Sep 2008 Posts: 57 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	What is a "No Doc" ReFi? Anyone know?

01-12-2009, 06:41 PM	#2 (permalink)
Vincent E Junior Member Join Date: Jan 2009 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: What is a "No Doc" ReFi? No Doc Refi meaning you do not need to provide any documentation such as income, W2's (2006-2007) Tax Return, bank statement, etc...It is also known as "NINJA Loan." This type of program was created in 2003-2004 by the lender/investor. The lender was only wanted to have a loan application fill out with name and address. In one month, all of this loan that is approved by the lender/investor; customer first payment was in default. The lender/investor changes there guideline and have the customer fill out a complete loan application, but did not verified any assets or employment.

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