| 翻訳と辞書 |
No doc loan
A No-Doc or Low-doc loan (abbr: No/Low Documentation Loan) refers to loans that do not require borrowers to provide documentation of their income to lenders or do not require much documentation. It is a financial product commonly offered by a mortgage lender to consumers who cannot qualify for normal loan products because of fluctuating or hard-to-verify incomes, such as the self-employed, or to serve long time customers with strong credit. Applicants are often required to provide a substantial down payment, i.e. a larger deposit either through equity in security or personal savings.
Self-employed, unemployed, seasonal workers, and new immigrants generally struggle to meet strict requirements to qualify for loans. A loan with few to no documentation or credit history requirements is easier to qualify for, but generally carries a significantly higher interest rate.〔(No-Doc Mortgages let you pay for privacy - MSN Money )〕
==Low Doc Loans==
Residential low doc loans are designed for self-employed borrowers who cannot provide tax returns as evidence of their income. They still require some form of supporting evidence of the borrowers income, typically in the form of BAS statements, although some lenders will accept an accountant's declaration or bank statements.
The high levels of arrears from low doc loans originated prior to 2008 have caused lenders to use restrictive credit scoring for new low doc loan applications.〔(Low doc arrears rate - Moody's Investor Services )〕 For this reason the proportion of low doc loans written by the major banks has dropped significantly.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
■ウィキペディアで「No doc loan」の詳細全文を読む
スポンサード リンク
| 翻訳と辞書 : 翻訳のためのインターネットリソース |
Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.
|
|