no-doc
Verification not required
No-doc describes a loan, typically a mortgage, that requires little or no documentation of the borrower's income or assets.
These loans rely on credit scores and collateral rather than pay stubs or tax returns: They got a no-doc loan because their income was hard to verify.
No-doc lending expanded dramatically before the 2008 financial crisis and became synonymous with reckless mortgage practices.
Borrowed money repaid later
- mortgageSecured home loan
- subprimeUnder top credit tier
- verificationProving something accurate
- underwritingRisk evaluation and acceptance
self-employed · freelancer · qualification · approval · asset-based · credit · borrower · origination
Person who toils
- immigrantOne who resettles abroad
- informalRelaxed, not official
- off-the-booksUnrecorded for tax purposes
- gigShort-term paid work
underground · payroll · contractor · verification · I-9 · eligibility · hiring · exploitation
loan
Borrowed money repaid later
- mortgageSecured home loan
- subprimeUnder top credit tier
- verificationProving something accurate
underwriting · self-employed · freelancer · qualification · approval · asset-based · credit · borrower · origination · risk
worker
Person who toils
- immigrantOne who resettles abroad
- informalRelaxed, not official
- off-the-booksUnrecorded for tax purposes
gig · underground · payroll · contractor · verification · I-9 · eligibility · hiring · exploitation · visa
low-code
Minimal-programming software creation
readme · specification · annotation · comment · codebase · function · method · parameter · changelog · wiki