income_docs

How the borrower’s income levels were documented at the time of origination.

For additional details refer to: https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M

├── alt_low_borrower
├── alt_low_lender
├── alt_low_unknown
├── full
├── stated_borrower
├── stated_lender
└── stated_unknown

alt_low_borrower

The mortgages qualified and underwritten under lender programs designed without requiring verification of employment, assets, mortgage/rental history and/or DTI (debt to income ratio) of the borrower. This refers to situations in which a borrower him/herself requested a low/no doc loan or a broker suggested one. Refer to https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M.

alt_low_lender

The mortgages qualified and underwritten under lender programs designed without requiring verification of employment, assets, mortgage/rental history and/or DTI (debt to income ratio) of the borrower. This refers to situations in which the BHC’s, IHC’s or SLHC’s automated underwriting system suggested to a particular customer a low/no doc or stated income loan. Refer to https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M.

alt_low_unknown

The mortgages qualified and underwritten under lender programs designed without requiring verification of employment, assets, mortgage/rental history and/or DTI (debt to income ratio) of the borrower. This refers to situations in which it cannot be determined if the BHC’s, IHC’s, SLHC’s, borrower or broker requested a low/no doc loan or a broker suggested one. Refer to https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M.

full

The borrower provided full verification of income levels via W2, pay stubs, tax returns, etc.; assets were verified; and other underwriting criteria were documented. Refer to https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M.

stated_borrower

Stated Income includes all mortgages where the borrower was qualified for approval based on representation of income, without direct verification of either the source or amount of said income by the lender. Assets were not verified. This refers to situations in which a borrower him/herself requested a low/no doc loan or a broker suggested one. Refer to https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M.

stated_lender

Stated Income includes all mortgages where the borrower was qualified for approval based on representation of income, without direct verification of either the source or amount of said income by the lender. Assets were not verified. This refers to situations in which the BHC’s, IHC’s or SLHC’s automated underwriting system suggested to a particular customer a low/no doc or stated income loan. Refer to https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M.

stated_unknown

Stated Income includes all mortgages where the borrower was qualified for approval based on representation of income, without direct verification of either the source or amount of said income by the lender. Assets were not verified. This refers to situations in which it cannot be determined if the BHC’s, IHC’s, SLHC’s, borrower or broker requested a low/no doc loan or a broker suggested one. Refer to https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M.