Richard Marmo wrote an interesting post today onOnce Again, Stupid, It's The Economy
Here’s a quick excerpt
One of the more creative approaches was the Stated Income Stated Assets Loan, also known as a SISA (Liar’s) loan. Yep, it was and is exactly what it sounds like. The income listed on the mortgage loan application was accepted as exactly …
Read the rest of this great post here: Once Again, Stupid, It's The Economy
