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LendingRisk.com Mortage Industry Dictionary

Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.

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No Ratio Documentation (NR) a.k.a. No Income Disclosure (NID) Documentation

A documentation type description used to indicate that the borrower's debt ratios were not calculated for loan qualification purposes. Typically, to qualify a loan with this documentation type the borrower's income should not be disclosed on the loan application or in the file documentation. However, the application is complete as to liabilities, assets, schedule of Real Estate Owned (REO), and all other documentation. A loan with NR Documentation represents a significant credit risk. Typically, price adjustments and more restrictive Loan To Value (LTV) ratios associated with loans that have a NR documentation type.

See Documentation Type
See Mortgage Loan Documentation Type Overview
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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.