Documentation

Documentation is paper work submitted to complete a loan application for a mortgage.

Expanded Definition

As part of the loan application process, a loan originator collects a book of papers detailing the borrower's financial history. Typical information includes copies of previous mortgage account statements, income tax records, credit card documents, etc.

The documentation makes it possible for the loan originator to resell the mortgage to others.

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Related Terms

• Mortgage
• Subprime mortgage debacle

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