Stated Income on Subprime Loans: Comptroller Dugan Expresses Concern

Stated Income on Subprime Loans: Comptroller Dugan Expresses Concern -Sound underwriting – and, for that matter, simple common sense – suggests that a mortgage lender would almost always want to verify the income of a riskier subprime borrower to make sure that he or she had the means to make the required monthly payments,” Mr. Dugan said in a speech to Neighborhood Housing Services of New York