Low-doc Loan Definition

Noun

Singular low-doc loan

Plural low-doc loans

low-doc loan (plural low-doc loans)

  1. (Australian, banking, finance) A loan or mortgage where the borrower provides only limited proof of their income.
    • 2006, Suncorp, Low Documentation Loans product page [1]
      Low Doc loans are a flexible solution for self-employed people who have income and assets, but are unable to provide the required financial statements or tax returns at the time of application.

From Wiktionary under the GNU Free Documentation License.
Thu May 21 07:22:47 2009

Low-doc Loan News
A bank that never forgot the basics - Annapolis Capital
news.google.com
A bank that never forgot the basics

Annapolis Capital

Some banks, for example, don't like to loan to someone with a credit score below 660. But because Thomas and her staff lend locally, they can help out a ...



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Mozilo Was a Master at Ass-Covering - Reuters
news.google.com
Mozilo Was a Master at Ass-Covering

Reuters

By mid-2006 the whole industry routinely called these low-doc loans by the far less polite nickname of "liar loans ," and every mortgage broker in California ...



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The visible hand - IFR Asia
news.google.com
The visible hand

IFR Asia

In the same quarter the demand for mortgages was up over 7% and mortgage delinquencies were down both for full doc and for low doc loans . ...



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From Google News Search: "low-doc loan"
Sat Jun 27 21:35:16 2009