Definition of "no-doc" []

• Made without documentation as to the borrower's income. (adjective)
• A loan made without documentation as to the borrower's income. (noun)

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• "We are witnessing the piecemeal exposure of a vast criminal conspiracy, consisting of "affordable housing" policies at Fannie Mae and Freddie Mac, low-doc and no-doc "liar loans" by dumb and greedy mortgage bankers, and time bombs set by deliberately manipulative securitization of these loans and sale of "protection" by smart and greedy folks like GS and AIG."
• "After all, the Canadian banks didn't make all the foolish sub-prime no-doc loans that were made in the US, the Canadian unemployment rate is somewhat less than in the US, and Canada is rich with natural resources with worldwide demand."
• "Everyone thought the rising prices would mitigate the imprudent loan processes and structures, the no-doc loans, the 97% loans or 120% home equity loans."