Is This the End of the Line for Stated Income Loans?

“This is the end, my only friend, the end…”
-Jim Morrison, The Doors - “The End”

The stated income loan has been the best friend of the mortgage industry for quite some time. There are some rumors afoot that Fannie Mae could stop purchasing stated income, stated asset loans altogether. That should be scary news to some people, basically anyone with a conforming SISA loan in the works right now.

No one seems to know when the SISA program will be gone, or even if it’ll go away for sure, but its going to leave a lot of homeowners out of luck.

We’ll just have to wait and see what happens.

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