No Income Verification For 80% Of HBOS Loans

18 Jun 2009

Up to 80% of home loans granted by HBOS were done without income verification, according to Michael Bolton, the troubled lender’s former mortgage head.

Up to 80% of home loans granted by HBOS were done without income verification, according to Michael Bolton, the troubled lender’s former mortgage head. In response to the assertion, an HBOS spokesman said its underwriting approach is carried out in a “responsible manner.” Ray Boulger of John Charcol, ...

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