What Will Trigger Irresponsible Lending?

Orange County Register, Oct. 11, 2018–Jeff Lazerson
In September 2016, I first reported to you that averaging deposits from 24 months of bank statements would be acceptable to count as income. In August 2017, I first reported that stated income loans are back. Ever since, common cries from many readers have been, “Here we go again” and “Didn’t lenders learn the lesson from the mortgage meltdown?”