Chase introduces less stringent income documentation requirementsMortgagePress.comMortgage income documentation, Chase Chase has released Lite Income Documentation, a less stringent income documentation option available for home equity lines of credit and loans associated with primary residences, second/vacation homes and non-owner-occupied homes, as well as for purchase, cash-out and no-cash-out transactions. Borrowers with a FICO score of 700 or more are eligible for Lite Income Documentation for home equity lines and loans up to $350,000. "Borrowers with strong credit backgrounds can verify their income with as little documentation as one pay stub that includes year-to-date earnings," said Kimberly Salvo, Chase's home equity national sales manager. "Knowing that origination clients want faster and more convenient application processes, Chase has launched the Lite Income Documentation Option to provide just that." Chase, a subsidiary of JPMorgan Chase and Company, is a consumer and commercial bank based in New York. For more information, call (888) 342-4273 or visit www.chase.com.
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