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Certain Home Buyers Willing To Be Deceptive – National Mortgage News

Over one-quarter of the consumer respondents to a Mphasis Digital Risk survey admit they are willing to bend the truth in order to lower the cost of buying a home.

This could be considered shocking, even as the causes of the Great Financial Crisis fade further into memory. Among the roots of that late-2000s debacle was misstatements on mortgage applications, especially with certain products like no income/no asset verification loans that encouraged deceptiveness, also known as "liar loans."

Even with tighter product underwriting standards as a result, lenders cannot rest on their laurels when it comes to the possibility of deceptive information in an application or related documents.

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